Spraying with a rattle can is going to give you a smooth finish, but there are several disadvantages as I see it. First the proper use of a spray can is holding the nozzle about 10 to 12 inches from what you are painting. On wrought iron work this is going to mean that 90% of your paint is not going to end up on the railing.
Second, rattle cans are an expensive way to buy paint.
Third a sprayed on finish is a lot thinner paint film than a brushed on finish so it will not last as long.
I think I would use a brush, and if you were worried about brush strokes. add Penetrol to your paint.