jesus…
Nitromors is solvent based, some of the versions contains DMC and some don't (just MeOH with a few additives like SLS), the ones containing the DMC are better at stripping paint but are a lot nastier to handle.
Caustic soda (aka NaOH) will slowly dissolve a steel frame, we are talking bloody ages here mind. If it was an aluminium frame you could add dye and colour the frame but you have to be careful as NaOH rips into the reactive aluminium as it strips off the protective oxide layer.
As for the shotblasting, if you have a thin walled aluminium frame like some of the merida shotgun tubing stuff then you could damage it. With steel this is much reduced, if it's that much of a worry there are places that use different abrasives (like ground walnut shells).
Have a word with the people who are powder coating your frame – ask them what to do, if they cannot shotblast the frame I presume they have a chemical cleaner to strip the frame of residue?
If not, go somewhere else because the job you are about to get done will be shite and last about as long as you generally own most of your equipment (4 weeks).