Years ago I used to dip and crest my own wooden arrows. I used Fletch-Laq for dipping because Fletch-Tight glue would adhere to it better. And, I used Testor's model car paint for cresting. Are people still doing it that way?
People do it that way and a few other ways, the trial and error of many has made advances in ways of doing cresting and such. There are a ton of threads about it, do a search about cresting and you have reading for a month or more,