If just hoping for a few more years, I'd forgo the sandblaster expense and effort.
Knock off the loose flaky rust with a wire brush then apply the Ospho twice. While the rust may turn black within an hour or 2, depending on temperature, do wait the full 24 hours before painting, and make sure it does not get moisture on it in that time.
Rattle can is a waste of money for such a surface. Brush/ roll on something, in several coats with adequate dry time between coats. I've used the Rustoleum marine/yacht enamel and it is a much better product than their regular offerings when applied correctly( not too thick, in one coat). It adheres better to the substrate and dries harder. Half the price of Interlux yacht enamels, and a smaller fraction of POR15 or rustbullet prices.