FAQ for
The Fast and the Furious: Tokyo Drift (2006) More at IMDbPro »

No. Although Fast and Furious was shot after Tokyo Drift, storywise it is set before this film, and may connect with certain events in Tokyo Drift.

Paint is forced from the paint guns using a compressed air feed, which usually just blows cold air (there is no point in pre-heating paint since the car will be 'baked' in an oven to set the paint finish). It's possible the paint could be so cold as to be uncomfortable when coming into contact with bare skin, though it's more likely the boy's discomfort is simply due to the bullying he is being subjected to.