If the paint sprays out with a grainy, pebbly surface you have a good mixture. Hold the airbrush a bit further away from the surface you're painting, too, as the paint will build up rapidly. I prefer using acrylics for this technique because you can remove any problem paint using a glass cleaner with ammonia. Windex will easily strip and clean up acrylic paints. Acrylic paints flow through my airbrush without thinner, while other varieties of paint may not.
Acrylics dry rapidly as well.
You can try this technique using any acrylic colors. The best mixture will come from mixing flat and gloss paints together. You can also apply a gloss color, then cover it with a light coat of flat or semigloss clear to knock down the finish to simulate the satin gloss of vinyl. This is where using an airbrush pays off. It allows you to employ a myriad of paints and finishes to better detail your models.