Chemical treatment/coating for cast iron machinery?

I just purchased some old cast-iron machine shop equipment with patches of rust and residual paint. I started to use a standard gel paint remover gel ⇦ on eBay or Amazon [affil link] for the paint but next I need to address the rust issue. I really didn't want to just re-paint it, I was looking more at finding some chemical coating that I could apply to prevent future rust attacks and/or stop any residual rust that may be left.

Any suggestions?

The coating needs to be applied via conventional paint or spray. I've heard about a coating developed by Boeing called Boeshield ⇦ on eBay or Amazon [affil link] that a lot of companies sell along with similar equipment. I comes in an aerosol can and is used for things like the surface of a common woodworkers table saw.

Thanks! - Neil

I don't know how practical this would be for you but I've found the most effective method to clean cast iron is to abrasively blast the surface with glass beads. Glass beads will not harm the surface of the cast iron and will leave you with a clean, paint receptive surface. If you have a huge piece of machinery obviously this probably won't be practical but for smaller pieces it works great.