Let's see if I can describe what I did. I took a 6"x48" piece of marine plywood. I chucked a field tip in my B&D cordless, with the arrow attatched, screwed into the feild tip. I laid it down so that the arrow was straight across the board.
I took a 1/4 inch bit ,and drilled holes around the 4 corners of the drill, and pounded dowels into the wood, so that the drill wouldn't move, the drill has to be picked up vertically to the wood to remove it. I used screw eyes and a small bungee cord to hold it still.
I measured the height of the axis of the arrow, and made open-topped small blocks for the arrow to lay in, as if it were a pipeline. I drilled two holes in different places to have a pull out dowel peg, for different trigger settings, for different speeds on the drill.
I made a paintbrush rest along the length of the arrow with scraps of wood. Once I got an arrow the way I liked it, I made up a chart of the colors, and taped it where I could refer to it.
I started with a white flat enamel background, Krylon, and placed my stripes on the white back ground. To spray the arrow, rather than using masking tape, I used card board shields taped to the jig, and sprayed the arow as it spun on low speed. Do the arrow s in batched of 5 or so, and don't be afraid to go back and do touch ups. Hope this helps, if can, I will grab the digtal and post some pictures...