frame protectant

After recently having my truck lifted I've noticed many parts under my truck are rusting (frame, exhaust system, older suspension parts etc.). Is there any way to counteract that, and then keep it from happening again? I know a few people who have used Line-X or another spray on bedliner material to coat their frames, fender wells and other underbody features... is that a good idea? Any other ideas?

Forget the exhaust system.

The other parts will not benefit from coating unless you take the time to get all the rust off and get down to bare metal. Otherwise, they will just rust undeneath. If you go to this much trouble, I would get a real undercoat applied by a professional shop.

If appearances is what you're looking for, get a good metal paint and primer (Rustoleum).

Brian is kinda right... there is a product called POR15. Its hella expensive, but works mint. The POR stand for Paint Over Rust. Ask any hot-rodder about it... a lot of them use it for frame off restorations.

What about a product called Wurth Underbody Sealant?

Correct me if I am wrong, but I understand that the rust you are seeing is just surface rust and poses no real threat to your truck. I know that this is definitely the case with your exhaust. Personally unless your truck is a show truck, I would use money on other MODS!!

Well the thought is to get it into a daily driver with show quality, lol.