It's called media blasting. Baisically it's like sand blasting but instead of sand you use very small plastic beads. It will not remove rust but more importantlly it will not distort the sheetmetal. Once all the paint is gone, you can have the rust removed with sand. This is not a do it yourself job! Ask around at some restoration shops with a good rep, they will know exactly where to go. If I remember correctly the price is reasonable. And it will usually only take a few days to be done. Whatever you do, dont leave the car with bare metal exposed any longer than necessary. Rust will form that you will not see, it will be trapped under any new body filler, primer and paint. A year from now you will wonder where all the little bubbles are from, and all the money and time will be wasted. Good luck!
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What is best for stripping paint? Soda Blasting, Dipping, Sand Blasting? 
Dipping isn't really the way to go. The solution gets into all of the little nooks and crannies and has the annoying tendency to wait until after the car has been painted to start seeping out. On the media blasting, they can use a material that is aggressive enoug to get minor rust off, but no so aggressive that it distorts the metal. The blast media can also hang around unseen, waiting for you to start painting to reveal itself, though.
You have to spend some time blowing the car off with compressed air to get as much of that stuff out as you can.
