yeah, i've read that a lot of people used engine block paint on rims and calipers. im sure it works just as well but i used Dupli-Color Caliper Paint (picked it up from checker auto parts for $18). its a kit that comes with a paintbrush, spray on brake cleaner, and a mini can of caliper paint. the whole project took around an hour and a half, and i let it sit for about 20 minutes then went straight to a car wash and -- no chips!(cabpatch)
anyway, point is-- i'd recommend Dupli-Color Caliper Paint