done this a couple of times on various things.
when doing a full resto, powder coating always gets top vote imo, its so much more durable, but when budget wont allow, paint works fine.
for taking the existing paint/rust off i personally have always wire brushed using an angle grinder with a wire brush attachment with the component in the vice. When there is rust i find a drill attachment isnt powerful enough to get all the rust off and a hand held wire brush is useless, the rust just comes back.
when painting, after taking it back to bare metal, paint all the bare metal where pitted from rust with rust treatment stuff, though, this is useless if there is rust still there, i emphasise the importance of getting it all off. Then if you have a compressor, mask off the strut and hand up with some welding wire or similar, 2 coats or red oxide, 1 coat of primer, 3 coats of black gloss. Ive always used cellulose based as thats just whats been in the workshop (about 20 gallons left from the 80s or so) anything will do really, hammerite is good strong stuff but doesnt spray well.
If brushing on, same process really, just ... with a brush.
just from my experience, dont use rattle cans (i know you werent anyway) the finish looks great, but chips off and looks shite within like 1000miles.
not a great picture, but "heres one i did earlier"