They make kits for brake calipers you can buy at many of the auto parts stores. I have used a high temp paint before, did several coats, sanded in between, and prepped them well and it worked out great for me and fairly cheap. Currently i have MGP brake caliper covers in gloss black with "Mustang" on the front and "GT" on the rears. They are pricey (around $200) but to me (got as a gift mind you), they were much easier to put on than painting, look great, and will last forever. I get compliments on them all the time. Great mod IMO if you have the extra cash to spring for them or really want a long lasting painted look. As for the fluid i would stick with the motorcraft DOT brake fluid or any other major brand and you will be fine with that.
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