For prep materials, you'll need bondo, lots of sandpaper (60, 220, and 400 grit is what i used moslty), a sanding block, and a rubber sanding "thing" (kinda molds to body lines. You'll wanna sand the dings out to bare metal with 60 grit paper, then fill them with bondo. Fill them a bit more than level with the body, and get ready to sand! Once the bondo is dry, sand with 220 until just about smooth with the body, then sand 400 wet to make them smooth.
Then take the spoiler, head and tail lights, bumpers, side skirts, mirrors, A and C pillars, wipers, weatherstripping, etc off the car, and get ready to sand. Wetsand the entire car, and removed panels with 400 grit paper
WET. This will take quite a bit of time because you'll get tired fast. Took me about 3-4 hours to to the whole car. Just make sure the paper, and body stay wet. You'll know when its ready when the water dries and the paint is dull and no longer has a sheen. Then you use a i think 400 or 600 grit (can't remember) 3M roughing pad to finish that all up.
Mask off all the windows, and anything else you dont want over spray on. Make sure you peel the weatherstripping around the front and back windows badk enough that you can stick tape inside, and fold it over to cover the visible part of the weatherstripping. This will prevent the weatherstripping from getting paint on it.
Materials wise, heres a simple list:
sandpaper
bondo
water
3M finishing pads
painters tape- we used blue 3M
primer
thinner
black paint
clear
decent spray gun (check out harbor freight or northern tool for decent guns for cheap)
good air compressor (20 gallon is probably a decent size)
water trap for air lines
