Doug,
My local powder coater does multicolor applications every day. I think it requires two runs through the oven (or more) so costs a bit more. You could have the Alfa script done in non-wrinkle red and the rest in wrinkle black. The way I had mine done they just sprayed the wrinkle powder over the whole cover, then using a paper towel, wipe off the powder covering the script before putting it in the oven. As I had polished the script before taking it to them, bingo, silver lettering.