this is a question i can handle with ease. i own a garage floor coating company.
yes you must get all of the old paint off or it could peel again. i cannot tell you what kind of coatings to use because i have had to grind them all off because either they are junk products or they we installed on a poor surface.
surface prep is the make or break deal with any coatings. i would recomend you do not acid etch the floor. it can get into the pores and then cause the new coating to not stick. we use a grinder to scuff the top surface to give the product something to bond to.
something two part is the way to go, and you can't get it at lowes or home depot. if you want you can PM me, i think there is a dealer in NC you can contact if you would like.
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