Remove everything from the racquet. Wipe it down with a good cleaner such as alcohol. Get some 120 grit wet/dry sand paper and give it a good sanding.
Get some 400 grit wet sand paper and give it a good wet sanding. If you don't know, all wet sanding is is dunking the sandpaper in water and sand it. The 400 grit will remove any of the bigger scratches left by the 120 grit dry sanding.
After that's done, get a lint-free rag, preferably a tack rag like those used in an auto paint shop and clean the racquet completely. If you have any oily substance on the frame, including oil from your skin, it will bleed through the paint.
Get a good primer and shoot on at least 3 coats. Once it's dry, get some 600 grit wet sandpaper and sand it smooth. Be careful on the edges as that sandpaper will take off all of the primer in short order.
After it dries, again, wipe it down well with a tack cloth.
Now you're ready to paint it. A good spray paint will work for your application. I'd go to a reputable paint shop that deals with cars for advice on a good spray paint.
I'd hang it from something so that you can spray the whole thing without having to touch it. Spray on a tack coat...not too heavy or you'll have to deal with runs. When that coat is dry, hit it with your gloss coat.
I'd recommend that you practice spraying something of similar texture to see how much paint the sprayer is applying.
Sounds like a pain in the rear, doesn't it? Now, if you ever wish to have your car painted and have it done professionally, you now know why it ain't cheap!
David