The first step is to prime the model white - I use GW's White Primer as I still haven't found a better alternative - and then hit it with your yellow of choice - I use Krylon Yellow for mine.
The next step is one of the most important ones - wait. Make sure the model is entirely dry before continuing. I will usually spray a batch at night and then work on them the next day. It is a slow process but there isn't much actual time where you are dealing with the model.
After the model is completely dry it is time to pick out the the details. On the model below I hit the shoulder pads with black as well as the ball pieces on the backpack. The only think left to do on this guy is to paint the eagle. I use a watered down coat of Dheneb Stone for this. I don't paint on any reds at this point - they come out way to dark after the dip.
Once you have the details picked out it is time for the dip. You can see on the bases above where I use a little pair of pliers to hold the base. I also use square bases because I have a bunch of them from conversions and I don't want to ruin my round bases.
If you are going to add any decals now is the time to do it.
Once the model has all of the details picked out it is time to put him on a base and hit him with the Testors Dull Cote.
I have been very pleased with the way these guys have turned out so far. It has not been a ton of work but it has been very involved and slow going. I am having a blast doing it and can't wait to get my force complete.
Be sure to let me know what you think in the comments!