When I used to race R/C they had a liquid mask product. Depending on how big an area you are doing it may work for you. Check out any hobby store. They should carry it or know where to get it.
http://www.hobbypeople.net/gallery/699810.asp
Looks like there is one made by sherwin-williams
http://www.sherwin-automotive.com/products/list_products.cfm?cat=72