Hey Streamylc

Sandblasting the exterior would be OK as long as you INSURE that not a speck of sand gets/stays inside the "working area"

But all of that is un-necessary...
Disassemble and hone the bore with the proper sized ball-hone.
Coat the interior with Vasaline, then plug/seal the bore and ports how-ever you can.
Wire-brush exterior down to metal, then degrease with POR-15's "Marine Clean"
Prime and paint your favorite color.
Let it sit on the bench until you're ready ... brake clean the
Vasaline ... go

-Hd