sigh...
Despite what the others have said there is the fact that when the compressor is compressing the act of compressing causes the air being compressed to become very hot. When the compressed air goes from the piston chamber to the tank it cools. This heating and cooling causes condensation so no amount of doing things on the outside of the tank will change things.
Draining the tank only empties what has settled to the bottom of the tank. There will still be condensation on the tank sides and this will continue to rust the tank from the inside out. Not saying draining is worthless, just that you aren't getting all the condensation.
My advice (advise in wreckspeak) is live with it.
Now, keeping the condensation from entering the lines, that's a whole nudder kettle of fish and can be dealt with by adding a separator.
UA100