I would love to coat my parts with that heat dissipating coating. What's the name of the brand & product?
As for media blasting, you have to be careful about the media you use. You don't want loose particles, or particles that get wedged into the smaller spaces inside, to come out into the engine oil. I'm sure there's a way to tape or mask off the underside to prevent media from getting inside.
I've used aircraft stripper to clean up valve covers. It's pretty toxic stuff though. I had this powdercoated at my job several years ago. It's held up pretty well over the years so far. But I
removed the casting lines, hand-polished the letters, and
taped them off before it got powdercoated.

A few years ago I started working on a 4A-GE vc set, but never finished. I was in the process of polishing the letters, and almost finished one of the two covers.