Would a variation of the backglass saran wrap trick work on this playfield?
https://pinside.com/pinball/forum/topic/backglass-advice-krylon-triple-thick
This might work to flatten the flaking. Then you would have to add multiple layers of crystal clear for good coverage. Of course, you would have to use something besides Krylon Triple Thick. I've used Krylon #1303 Crystal Clear Acrylic with good results. I have had problems with fish eyes but I think that is because I didn't use thin coats that were allowed to dry for 24 hours before applying the next coat. It sands well after drying.
I buy it at Michael's for about $9.00 less the 40-50% coupon discount, or about $5.00. You will need about two cans for a 'flat' playfield, probably more for your playfield.
Amazon has six cans for $39.99:
I hate to see artwork this old destroyed. I sure hope that you can find a way to save that playfield @zacaj.