My suggestion would be that the Arm R Seal isn't needed for what you want to do. I would clean the chairs thoroughly to remove any contaminants, like furniture polish. This would be with a good strong cleaner like TSP, followed by a wipe down with mineral spirits. Then prime them with Zinnser BIN, a shellac based white primer that will insure adhesion even if you missed a few spots during the cleaning. Sand that as needed to smooth it out, then paint with a good quality oil based enamel (my preference) or an equally good acrylic enamel (sometimes labeled as acrylic latex). When most people say latex, they are referring to wall paint, avoid using that at all costs. Just the paint will be as durable as anything else you try top coat it with. Putting a varnish or such on it will also cause yellowing over time, that;s likely to be quite unattractive.