I was browsing a tackle making forum and people there are building fluid beds to powder coat lead jig heads. Essentially the powder sits on a semi-porous membrane that is pressurized with air from below. The whole thing vibrates like a tumbler and the powder just swirls around and coast the jig heads. The rigs those guys are building aren't suitable for high volume bullet coating, but the idea could easily be scaled up.
Anybody here try that?