Mineral spirits works well (if you can stand the smell). If you think that would be too harsh on the red oxide, a mild liquid detergent (dish washing type - like they say don't use to wash your car) diluted will work. Either way, it still takes a lot of elbow grease. The milder the cleaner, the more elbow grease required. It's a grunge job, but what a difference it makes.
My last belly cleaning job was with a rotisserie, using a blow torch to remove undercoating. But boy did it turn out sweet. The bottom of the car looked as good as the top!!
Neil