Weekend Warrior-Quasi is right on! [img]graemlins/applause.gif[/img] If the old stuff is coming off, get it all off. Use an angle grinder with a wire wheel an scuff off the old and use 60 grit and scuff the bottom. Gluvit is the best and has proven itself with years, and is only getting better.
Wash the bottom with acetone or tolulene and if you really want it to stick go get some acid etch primer from NAPA.
Most gluvit cans are two part and make a half gallon. I would use it all if it is 16x48 or bigger. Roll it on and it should look like textured sheetrock when your done.
I've done many of these and if you have questions, please e-mail, or call. Good Luck