Here's a little bit of an update!
OK, so I coated the walls and ceiling with a thin layer of joint compound. No more crackling paint - I know it's hard to see, but this is the ceiling in the same spot I posted above:
And I continued my ceiling fan/vent repair. Spackled over more pits and holes and painted the fan with Rust-Oleum Appliance Epoxy (White). That way when you look up through the vent you won't see the disgusting rusted mess!
Tomorrow I'll be sanding everything down with a couple sanding blocks and then applying a coat of Binz.
OK, so I coated the walls and ceiling with a thin layer of joint compound. No more crackling paint - I know it's hard to see, but this is the ceiling in the same spot I posted above:

And I continued my ceiling fan/vent repair. Spackled over more pits and holes and painted the fan with Rust-Oleum Appliance Epoxy (White). That way when you look up through the vent you won't see the disgusting rusted mess!

Tomorrow I'll be sanding everything down with a couple sanding blocks and then applying a coat of Binz.