I too have dipped most chrome accents. The bumpers have been done 10 months, I only did a light respray here a few weeks back to cover up some tiny chips. No major peeling, but you will want to put some tire shine on it to keep it looking deep. I use Adam's VRT.
As far as application you CAN do it with aersol cans from home depot but the best way to do it is to spray it with a paint gun. This gives you a very smooth texture almost like vinyl. To make it sprayable you will need to either buy pre-dilluted (dipyourcar.com
sells gallons) or thin it yourself with a thinner like Xylene. You can get it decent with cans, just watch youtube videos for techniques. I prefer spraying from a gun, a lot easier to get it done right and most shops apply this way.
Overall, its a cheap (30$) method to having a nice black look.