It's a bake on coating. Applied with a spray gun then cured in an oven. It's much harder than rattle can paint, even epoxy based rattle can paint.
Cera-cote is a much better product than Dura-cote, but both are good products.
You will not save much having a gun coated, some charge more than a dip job. Most will only do solid colors, but a few places will do simple type camo patterns.