Two cans should do it I think. I have one on the frame now, but it obviously needs more coverage. I'm figuring the second can will finish the frame as well as cover the radiator guard. I realize this is an oil cooled bike, and behind the radiator guard is an oil cooler, but it's a Tecate part and on the Tecate it was a radiator guard. You can call it Ray, or you can call it Jay, but just remember, Glamy is gay*.
They were just under $20 per can, I just checked. I thought they were almost $50, but that's the Shasta White, not the red.
*allegedly
85 Tri-Zinger 60
85 ATC250SX
86 ATC250SX
87 ATC250SX
02 XR650L conversion
84 ATC 480R