I'm a professional painting contractor by trade, so I've sprayed just about everything. I've come to prefer polyamide epoxy for finishing bows. it's a two component epoxy system(resin + catalyst). you'd be hard-pressed to find anything more abrasion or moisture resistant, yet it is flexible enough to work on bows. it sprays well if properly reduced(about 20-30%), builds a good mil thickness with little fear of sagging because it tacks up very quickly. I've sprayed bows three times in less than three hours. sands very well after 24 hours @ 70+ degrees and low humidity, and dries faster with more heat, as in a hotbox. anyone can walk into a local "real" paint store and probably get polyamide epoxy as well as epoxy thinner. can't be had at a big box store, so don't waste your time looking. this is commercial grade material.
downsides are that it only comes in gallons(which is two gallons total, one of each part). I buy in gallons, repackage in quarts and sell/give it to my bowmaking buddies at cost, which is about $80 for two gallon kit plus 8 clean, new quart cans. it has a shelf life, so I store it in our extra fridge in garage, which will triple the shelf life. keep it right next to my Urac resin. :-) it only comes in high gloss. I used to add lacquer flattening past to dull the final coat, but can no longer buy it in Ohio because of all of our damn new clean air laws. I've resolved to spray with three coats epoxy, steel wool thoroughly, then spray two coats of clear acrylic matte finish from aerosol can. sticks just fine and dulls finish nicely for a good long time. this epoxy does not adhere well to certain oil stains. I dye my bows, and it sticks just fine to aniline dye. it has a pot life of only several hours, so only mix what you need for a particular project, store dirty gun and unused material in fridge to keep it from hardening up overnight.
I've sprayed a bunch of this stuff through a DeVilbiss gravity fed cup gun that is sold for spraying automotive finishes, and it does pretty good. by my measure, it is low cost, and very, very effective.