First, this method is for removing old chrome to prepare the surfaces for painting. To give a new chrome plate you will have to send the metal parts to a professional chrome-plater. You should specify a satin-chrome finish too, since ordinary plating will give you a smooth, mirror-like chrome surface.

The FED do rust. I have several of them. The one above got the ‘treatment’ because it was badly rusted.

Indoors, on the proverbial kitchen table, is not the right place to do this work. Do this outdoors, or at least in areas with wide clearance from ceilings, walls, and where there is easy access. Don’t have other people (when they’re not needed) or children or pets around.

Clear lacquer may work, just like black paint, but in this case, the metal shows through the lacquer. Not sure exactly which type of lacquer you should use. Something used for the top coat of automobiles may be useful?

Aluminum doesn’t take paint well. It’s hard to make paint stick to aluminium. Plus if the cover plate is made only of aluminium, stripping won’t work since the metal will be of the same colour inside. The latter FED-5 I have still has a brass cover under the chrome. Zorki-4K are aluminium?