Yeah, there's probably no chance of that.
With the transmission, driveline, and bellhousing out most of the underside will be exposed, and I'm going to replace the rear spring bushings, so not dropping the rear axle housing and painting the bottom of the car with red oxide seems like a wasted opportunity. The entire bottom is currently painted black. Hopefully all the black paint either sticks well so I can just clean and paint, or it easily wipes off.
All I was going to do was take the pumpkin to a rebuilder. Nice little two-weekend project!!