Is that not giving you a pretty textured finish?
tube fenders /thread
I used Krylon Fusion in the past and it worked great. The technique is to apply several thin coats to make it more durable. Also, you can use a heat gun to restore the look of your flares. It's a lot easier than painting.
Andy the head service/body shop guy at our dealership uses the Rustoleum semi gloss on them with amazing results. It makes the JKs look brand new again.
for a little while:la: