I paint the lighter color first then paint the darker color on top of it.Ok those brought a new perspective to what I'm looking at. It's an original Big Daddy paint scheme. Three inch nose cone, base of black, yellow tip. It's a pretty significant yellow tip. Based on the package photo, I'd say between 1/4 and 1/3 of the length.
So would it be better to paint and mask the yellow first or the black?
I've been using Rustoleum paint, I let a coat dry for at least 24 hours before doing anything with it such as adding tape, taking off tape, etc. You would have to check your conditions depending on climate where you are painting.