DIY quality paint job

I have done several.
My opinion: Yes it can be done.

I recommend a base coat clear coat system, with several layers of clear.

Why?
Invariably despite your best efforts, you will get dust, dirt, and bugs in the paint. Several coats of clear allow you to wet sand it smooth, and get a near professional finish when it is all said and done.

Are you changing colors?

Dead on. A good friend of mine and previous roommate is a professional paint and body guy. Due to the fact that he was nowhere near as good in his personal life as he was a paint and body we did many a paid job out of the garage. 2 big issues to contend with in a garage, (1) matching your thinner to the varying temps of a garage. This just takes experience to figure out, but spraying all at once is even more crucial. (2) Backtobasics is completely right. Inevitably the clear wont be smooth, pock marks, and debris. Generally sprayed 3-4 coats giving plenty of clear to work with while wet sanding.