Firstly. I would wire brush ( or grind, depending )the crap out of everything you can get to. Power spray into all the cracks to get that hiding mud which causes rust eventually. Then I would get it steamed cleaned underneath. This will remove everything including dirt that likes to hide in spots etc. ( Patch any holes as neccesary )Take an air compressor and go through it all again. Use a galvanized primer. Use Rustoleum Rust Paint or as we call it here in CanuckLand ( Tremclad Rust Paint ). Its up to you if ya want a flat finish or a gloss. That frame is now sealed and protected for many years. My baby will get this exact treatment. Cheerz !