I did a thing similar to FogCityNSX a few years ago. I used a hand-held wire brush and took all the flock off by hand, then sanded it smooth, then painted the engine cover using black wrinkle paint.
Looks ok. If I had to do it all over (and some day I actually may), I'd put the wrinkle paint on thicker so it is more consistent. The wrinkle look is a little uneven. To do it really right requires 3-4 cans of paint. It needs to be put on really thick, JUST short of starting to run.
I did it in July in South Florida and set it out in the hot sun, since the wrinkle effect works best if it is heated while drying.
Flat black or satin would look really good without the complexities of dealing with the wrinkle finish.