Yes if you buy a liquid two part epoxy, you can paint it on things and it will seal whatever you are coating from water. It may need a few coats. I'm talking liquid epoxy resin, like comes in a paint can, not 2-part epoxy adhesive.
I'm not sure what this means but all epoxies are two part....
You can use any two part epoxy except laminating epoxy. Laminating epoxy will stay tacky on the surface in preparation for the next layer of glass cloth, etc.
I use West System epoxy. You can get it at most marine centers. Use the 105 Resin and the 205 Hardner......Make sure you buy the measuring pumps!
If you're only waterproofing stuff for inclusion into the aquaium then you can thin the epoxy with Denatured Alcohol. This is the way to do so:
Mix a batch up as directed and throughly mix. Next, add the alchohol slowly until you have a mixture about the consistancy of milk, or slightly thicker.
You can now easily brush it on any surface you wish to waterproof. The alchohol evaporates and leaves behind the epoxy.
One more thing. Beware of spray paints and clear coats in spray cans that are "epoxy". Although they use epoxy resin they contain some pretty noxious thiners and curing agents, some of which can attack plastics and foam.......Xylene is a popular thinner used in these products.