Here is a 3 step method to get you going (it's basically what I used if you don't count all the additional backwards and sideways steps I took):
1) Study that example (I think you are talking about Waffle's natural metal P-47D-30 example. If you aren't let me know and I'll repost it.) Try to identify the handful of main colors in the example (I think had 4). Look at how they are blended from one into another; where the lighter areas are and where the darker areas are in relation to the fuselage details.
2) Take the example and physically use in a P-47D30 skin. (Skuzzy or Pyro have posted instructions on how to create a custom skin - refer to them if you haven't create a custom skin yet - I think its a sticky thread in this forum). Us the example as the base for both sides of the fuselage, and skip and stripes or insignias or markings for now. Then go into the game and look at the skin you created - move all around the plane and watch how the light plays across the transitions between the colors you've identified. Use the .time command to change the angle and direction of the light and see what happens on the skin.
3) Now create another P-47D30 skin, but this time, start from scratch and you try to duplicate the example skin yourself. Create your own panel and rivet layers and airbursh those main colors you've identified, each on a separate layer. Try to recreate what Waffle created, but do it on your own. That will develop your airbrushing skills, and teach you about the blurring filters, etc in the program. I used Photoshop, but I imagine Paint Shop Pro has similar tools.
It takes ALOT of time, making changes, going back into the game, studying the plane for different angles and lighting conditions, adjusting the color levels and panel line/rivet layer intensities, going back into the game offline and seeing the result of your changes, and then going back and playing with it all over again. But if you do this much, as I described - you will understand alot about making natural metal skins.
I'm no expert, but using the above method here is difference between my first natural metal skin and my last one:
First skin attempt ever:

My latest attempt:

Other great examples to study are Octavius' "P-40 of Death" or any P-47D40 skin by nopoop. Download them from the custom skin site and study the bmp files for ideas on colors and blending.
Nopoop sent me a cool example of one of his P-47s in Photoshop format; if you use PS maybe he could send it to you as well.
Hope this helps. I don't have a perfected technique to "teach" - all I can do is show you how to learn the way I learned.
, GL!