The plastidip aerosol is completely different than the liquid you drip tools into. This is more like a spray on bed liner in a can (you could probably use those as well). It will spray out the same as a traditional paint. Application is no different.
The big difference is the fact that the plastidip or bedliner spray has rubber in it. So when the rocks hit it, the rubber absorbs the blow and doesn't chip the paint.
You can use a regular paint, but you'll need to re-do it probably once a year. Not a big deal since the grill comes off really easily. But this grill isn't as durable as OEM, so the on/off each time will eventually cause the plastic tabs to fail. If you are going to use regular paint, get a can of 'adhesion promoter' to help it stick to the plastic. For paint I would suggest using
"Trim Black" from SEM.
http://www.amazon.com/SEM-Paints-SEM39143-Black-Aerosol/dp/B000EM019O
The hardest part here is going to try and match the black with the existing bumper covers/fender flares.
As far as the modification I did, on the bottom there are the 2 clips. They are just regular tabs you push down to release from the slot the plug into. Well these tabs are a little thin and are therefore a bit weak. All I did was put a thin coat of plastic epoxy on the outside of the tabs where they "flex" so that they are a bit stiffer. It didn't make it fit any better, just made the tabs stay put where they should.