You guys are on the same mind track as what I was thinking.
The hard part is getting the door clean.
Rustolium sells the rattle can stuff that converts the rust back into something... what is good about this stuff is it is like spray paint... the more you spray, the more runs it creates which can soak into all of the nooks and crannies.
Then find a good epoxy paint or primer... just keep the weep holes from clogging.