You're pretty much on track JB.
Do-It carries a full line of everything you need really. Personally, I like a compressor that has the pressure gauge and water trap already attached. For guns I prefer those which have the cup on the top of the barrel, not the ones with the low-slung cup that detaches. A com pressor of this type allows you to fine tune air pressure to specific paints and paint thicknesses. The brush with the integral cup is cleaner and offers much more control of paints.
As much as I love the bait blast paints and cleaners, etc, I am going to suggest starting out using Createx's regular, plain jane, acrylics. They're water based and water clean-up, but most of all they have a significantly slower set-up time, meaning you can spray without hurrying. The Bait Blast is a rapid dry/set-up acrylic and can create problems when one is just starting to get their feet wet with airbrushing and not having to feel rushed with things is just a nice thing. Once you have sprayed a bit and feel confident in using your equipment, then dive into the Bait Blast products.... which I think are superior to any of the others. Bait Blast paints are tough, and, in fact, I have painted a bait in the morning and not bothered to seal it so I could fish it the same afternoon and at the end of the day the lure showed no wear whatever. I do suggest sealing newly painted baits, especially if eyes are used, but the paint is tough enough to just go fishing after a couple hours of dry time.
Do-It also has a great line-up of bait blanks [paint ready], finish sealer, eyes, split rings, hooks, stencils as well as the equipment which makes them as close as one can get to one stop shopping.
Once you get started in air brushing, you'll find that your plastic making has elements that can be used in air brushing too. Hi Lite powders added to paint colors make superb pearls and by mixing more than one color of hi lite to basic clear Bait Blast one can make some super interesting topcoats. White, small particle color shift pigments can be added to clear and get sprayed over dark colors or black to make some knock-out finished too.
Read then re-read several times the instruction info that comes with the gun, then grab some printer paper, fill the gun and start practicing. Dots, lines, feathering.... practice, practice, practice! Then get on a bait blank. If using createx and NOT heat setting any of the coats, you can use a toothbrush and cool running water to wash any mishaps or smudges off even after it's dry, so you have some cushion there. Keep your mind open and if you start getting flustered clean up and put things away for the day and start anew another day. Pay attention to things and take notes.
Most of all have fun with air brushing. I'm 72 years old and if I can pick it up, anyone can pick it up.