Fuj!!! You just haven't been visiting enough lately.
Look for the hard bow finish topic. It's fairly recent. I would post the URL but doing this on the d**n phone doesn't work smoothly.
In the following picture those arrows were done like this:
The bare shafts we're sanded smooth with 320.
The area that is blue was masked off with 2" masking tape.
The black was wiped on one coat with a clean cotton cloth. I wipe it hard to avoid build up. The paint covers well and soaks into the wood.
Same thing with the red crown.
Then removed the tape and carefully wiped the blue into the bare spot. Didn't have to get it perfect because I planned on doing the silver rings.
Let these dry overnight and sanded lightly with 320. The points where the masking tape joints are can need a little extra attention
I have a cresting machine but didn't bother to use it for the silver rings. Just free handed (it shows).
Let these dry overnight and then sprayed with the VHT. The instructions for use of the VHT are very specific.