Yes, I've done calipers on several cars with this paint (also the hubs and edges of the rotors so they don't rust) and it works great! Covers extremly well and is very durable... You can spray it, or use a brush, works equally well in either mode
Still looking good on my Dodge Stealth after 12 years, the X5, and my wife's TT. VERY Highly recomend it.
In all I've probably done a dozen cars with this paint, and it has never let me down.
Auto Specialty Paints Engine Enamel Product Page