I have read good things about electrolytic rust removal.
I have used auto supply Evaporust and Brownell's Steel Bright and they will work well enough for most purposes.
I think I would then blast with bead or grit, whatever was recommended by the brand of coating, so as to get a uniform surface instead of random rust pits, then spray n bake. It won't be pretty but it will be serviceable and protected from future rust.
I worked in fertilizer R&D and saw craftsmen soaking rusty tools and parts in ammonium phosphate or straight phosphoric acid. It worked well enough for hard use in a factory, but I don't think it is great for fine work like a gun. Why fool with Coca Cola and other home remedies when you can get the real stuff?
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