Yes, I use it all the time, though I now use a mini-spray gun and buy it in bottles/tins. Nasty stuff to spray (OK once its dry), so you need to use a proper vapour mask (though you really should with any spray) and spray outside on a warm day or in a very well ventilated workshop. I use a pop-up camping toilet tent as a temporary booth to prevent draughts. Not for spraying indoors. It works out quite expensive to do it with aerosols as it's at least double the cost of acrylic auto lacquers. You'd probably need three x 13 oz/400ml cans of clear; two for the body and one for the neck.
You don't want to spray when it's too cold, too hot, too windy or too humid. Between 14°C/57°F and 25°C/77°F is fine, though nearer 20°C/68°F is best. Too cold or anything above 70%rH is likely to cause some fogging of the finish with trapped moisture. To warm and you can get propellant/solvent bubbles trapped under a surface skin.
The end finish is great though IMO. It's also pretty easy to repair if necessary. It's not as tough as other finishes, but being softer, tends to dent rather than chip off; so looks a lot better as the guitar ages (again IMO). But for small knocks, it will probably mark where harder finishes remain intact.