Yeah, if you find the right clearcoat to go on top. That's the key, you've got to test what you put on top or risk ruining a good paint job.
Myself, on a plane that size, I'd use Testor's paint for plastic models. They use exact Federal Standard military colors for Allied and RLM colors for Luftwaffe planes. They also list colors for Japanese and Italian aircraft. Once you find the colors, topcoat it with a fuelproof clear. I haven't tried it yet, but I'm thinking either Chevron or Lusterkote will go on top of Testor's.
http://www.internethobbies.com/inter...iipainbyt.html