I have used the Eastwood product in the past that Gotham mentioned and it is good stuff. Follow with a coat of Eastwood Chassis Black and you are done.
Since your rearend housing is bare, and out of the car...that is a great opportunity to get the housing really clean...are you SURE that there aren't any blasting services around?
POR-15 is also really good stuff, they now make it in a satin black. nearly indestructible finish, when properly applied.
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