SOunds like a plan man. :) Thats exactly how I did mine, and I was pleased with the results. For your chest armour, you may want to go with a darker color than the POG. I think there are some folks who have used the POG on the armour with good results, but you will have to mist over it with a pretty dark grey to get the contrast btween the bucket green, and the armour green.
I will gray primer the guants then get the silver paint for base coat. then apply the Green, with some liquimask on the weathered areas. and scrathe it off and make other scrathces here and there where it is supposed to be. then go with darker greys, yellows, etc.