1. Certainly possible. Depending on how you arrange things as to how easy it'll be.
2. 3.7v source voltage from your li-ion, 3.2v forward voltage for the LED, 1000mA current for the LED. The calculator in my sig will recommend a 1 ohm 2 watt resistor. In practice, you can get by without one for that particular LED and battery combo. It's a little safer with the resistor, but you can go either way.
3. I don't see anything missing offhand.
If you intend to paint with anything opaque, then the media blasting is a waste. For clear or translucent paint jobs, it might be worthwhile. If you just want to rough up the surface prior to painting, then going over the pieces with 200 or 400 grit sandpaper is sufficient (and far cheaper). See the following thread for painting and baking parts. It's how I do all my paint jobs, and they're quite durable.
http://forums.thecustomsabershop.com...aking-Tutorial
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