Student on a tight budget, new paint job needed though? Home job or go to a shop?

I'm a student on a REALLY tight budget, but my car desperately needs a new paint job. The paint is chipped in a hundred or so places and faded all over the hood and back. By the condition of the current paint job, I'm assuming that bringing it to a shop would be a large cost. Because of my current financial situation and inability to pay a large premium for a new paint-job. Recently, I have stumbled on the "$50 Rustoleum Paint Job" which is basically home paint mixed with acetone and then sprayed or rolled onto a sanded and primed car, then have the possibility to add a clear coat. What would you guys suggest for a guy on a budget?
Don't need it show car quality, just need it to not look awful.
Don't need it show car quality, just need it to not look awful.
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Another thing to check out are the plasti-dips.