I've tried it... it's okay, the finish smooths it's self out pretty well but it's not super durable. If you mask stuff off make sure to remove the tape/paper before the plastidip dries because it'll pull up the edges and it's hard to stop the peeling. If you really wanna do it, lay it on thick and then try not to hit it with anything sharp. It'll absorb some hits but it can be cut.
Btw, make sure you clean the nozzle out with paint stripper before attempting to spray with an old can. I did a fork leg and then went back later that day to do a quick touch up, the plastidip dried some in the nozzle and it shot clumps out all over the place. I ended up having to strip the entire thing and do it over again.