Diff, no urban legend! Dipping the whole body has been popular in the HO world for some time. But I think the larger size of 1/32 cars may make this more awkward - larger containers and more wasted acrylic - don't try to reuse it, as it begins to cure (and chemically alters) as soon as it hits the air.
As others have said, a soft brush, say 1/2" wide, allows a quick coating to be laid on. Put it on fairly heavy, and blot at the edges with tissue where it runs off. Use high-quality artists brushes for application and there will be no marks in the surface. Work quickly - neatness doesn't count since the product is self-levelling and you can blot excess at the edges very easily with tissue, but it sets rapidly so you can't waste time. Wash brushes immediately with soap and water - they will last a long time.
Multiple coats are advised. Wait one hour or more between coats but make sure the body remains clean from dust. A blemish in one coat (brush mark, etc., but not dust or grit) will usually disappear in a subsequent coat. Let body sit for 24 hours after final coat before using for best protection.
And DON'T let your wife know that you understand this product!