Was this plane flown before? Are you sure about the weight? That does sound awful heavy. Usually scale models that heavy are flown by 50cc-100cc gas engines.
As for your question, it's rare someone actually recoats a whole plane like you're talking about. A cowl and a set of wheel pants? Sure. Maybe a wing tip that gets scuffed up or a repaired area would get the top coat treatment. But putting new paint on top of old paint on an entire airplane is just not generally done.