That would be your end game, but first you need to start with a gloss paint, or at least a gloss varnish.

But you need something like this:

http://www.elmcityhobbies.com/shop/index.php?main_page=product_info&cPath=14_72&products_id=1774

or

http://www.elmcityhobbies.com/shop/index.php?main_page=product_info&cPath=14_72&products_id=3565

first.

Use it wet, just a little bowl of water, with a drop of dish detergent to break the surface tension. The water help lubricate the paint and sand paper/pad so you don't burn through the paint.

Let the paper/pad to the work for you, you don't have to put much pressure on it. Once done, give it a rinse, and then apply your polishing compound. Make sure it is the "Finish Grade" like this one:

http://www.elmcityhobbies.com/shop/index.php?main_page=product_info&cPath=14_72&products_id=2272

Careful on corners and high points, very easy to burn through the paint.

When you are doing it, you will get to about the 8000 grit paper/pads, and think that it looks pretty good and that is all you need, but trust me and do the 12000 grit as well. Smooth as a baby's behind!