You need to get rid of the rust before you cover it up or its just going to keep getting worse, only hidden under sealant this time. There are chemicals that will de-oxidize the iron, but you may still have to sand it down if the rust isn't all on the surface (eg: some under the paint).
_________________________
'99 GTP, L36 bottom, XP cam, Headers, 3.29 gears, FWI, Powrtuner