YEP.
I use plasti-dip on my non-handled picks. It keeps them from slipping.
I've had a few peel though, so prepare the steel you are going to dip with a cross cut file, or course sand paper. That way, there is a surface for the plastic to adhere to.
Follow the directions exactly, slow dip in, slow removal. Hang the piece so that the last part taken out is pointing down. I dip straight in, using the pick shaft to hold onto, so I hang with the shaft pointing up. Allow a minimum of 15 minutes between dunks. Do not use for at least 24 hours after final dunk. Maybe more if you have built up a thick handle.
In most cases, it will work very well.
Romstar