Arrow wraps work quite well. Using fletch tite they bond the feathers to the wraps and they will not come loose. I used the E Z Eye labels. To prep the shat use a light grit sandpaper then rub with a towel and alcohol. Let dry, wrap and fletch.

As for paints ......... I've done it about everyway possible. Sprays, dips, markers ... I even fletched with electrical tape ! (worked pretty good actually)

If you want to do it easy and "right" then invest in dip tubes, and gasket laquer. Using the clear to full dip and coat acrylic/laquer based paints (cresting and crowns) and I have just started using the colored laquers and so far love it ! One single dip in the small tube and I get 10" of pure white, equal crown on my wood shafts. Let dry and fletch with duco or adhesive (not fletchtite)

You can use spray ons, and crest with enamel, you can make your own dipping tubes and just let the paint run off the shafts etc etc, but it just don't work as well IMO. Also, doing carbons and crown/cresting doesn't hold up over time.

For carbons I'd use EZ Cresting labels