Strip, sand, prime paint sounds right. Rather than using a stripping chemical, I just used 60 grit discs to sand the old paint off the cabinet using an orbital sander. Then wood hardener, wood filler and bondo to repair any trouble spots on the cab, and then another sanding with 150 grit discs. Two coats of primer, sanding any rough spots after each coat. Seems like you can then take the same approach as JeffC, with the Krlyon spray cans for your yellow.
Hope this info helps.