Yes, but lot of work. Definately don't pull the motor itself apart for this project.
Frame has to be supported when you do, because the center stand can not be used to hold bike up, as it is attached to the cradle that holds the tranny, and you are removing that with the motor/tranny.. Tricky job but can be done. Easier, less painful, perhaps to remove motor, primary and tranny separately, although, if you are really muscular, Motor and tranny, with primary case can all be removed together. Need a good back though, and perhaps a helper too. Think front isolastic must though be removed from the motor, and top motor mount too.
Start by buying a good book which will give you an overview, before you start, it will be worth the money......that way, you will have an idea if all this is really worth a couple of spots of rust, or..... if you really want to go whole hog, then at least you will get an idea how to pull all the other thousand things off the the frame to paint it....... :lol: