Gee, I thought my ears were ringing, as I heard my name mentioned on this site. LOL Soooooo to answer your question is yes it can be done but I do this only under certain circumstances and that is as follows. In reality it makes no sense to paint a jig, cure it put another color on cure it and so on and so on. If you are going to put on 5-6 colors, then plan out what sequence you want certain colors. For example if you are going to paint the Ultra- Minnow jig 4 colors ( yellow body , orange belly, green flanks and black dorsal line) you wouldn't do the belly first, then the body, then the dorsal line, then the flanks, because the colors wouldn'y flow right. The way I would do it is everything from the bottom up. So paint your body yellow, do your belly, then both flanks and finally your dorsal lin. The reason being is first of all you want the paint to dust off from top down if possible it looks more natural, except for the belly part which you have no choice.
Now getting back to the color curing. The only reason I would cure a jig and then put another color on is when when two colors are put on each other and then make a third color. This happened to me by accident. I had a jig with a yellow chart body, orange belly, purple flanks and a black dorsal line when I baked (cured) the jig, the purple over the yellow turned to green from the heating process. This is not what I wanted. I wanted purple flanks. So I screwed around with it for days trying different things and finally decided to cure the whole jig less the last two colors applied. I painted the body yellow, the belly orange and then baked the jig. Let the jig cool. Then I took the jig and put it over low heat of a heat gun, put on my purple, then my black, blended the colors so they were smooth and glossy and that was it. Colors came out like I wanted. Just make sure you use low heat, so you don't burn the paint. This process is very time consuming, however if you have problems with colors this works all the time. Also I didn't have a problem with adhesion or chipping. The first colors were already baked and hard. Hope this all makes sense. It is a lot easier to do than to explain. One last thing if you paint some jigs and then a month later want to add some color, this will work for you. Just remember to use low heat and make sure you are the one that painted the jigs. I tried this on store bought jigs years ago and whatever paint they had just burned. Sorry for the long explanation so early in the morning. I will post some pics if you guys want to see what I'm talking about.