I refinished an old formica table for my kitchen. I used the same method that people use to refinish laminate countertops.
Here is what I did: First sand the formica to rought it up, I used a sanding block a fine course and a finishing one.
I had to use some heavy spackle to fill in gouges from previous owners, then sanded those down.
Use a tack cloth to get rid of the dust.
Use a degresser/cleaner, I used TSP. Use it a few times.
If there is a lip of metal around it use painters tape and cover that up.
Use a very small pore small foam roller and prime the formica. Then let it sit for at least a day depending on how the humidity is. I used a water based primer.
With the roller paint color of your choice. Let that dry at least a day, then put another coat if needed. I let mine dry 4 days after the last coat of paint just to be sure because the next step is the most important and you want the paint nice and cured. I used water based.
Remove the painter's tape.
Now this is the fun part cover the floor under and around the table with a drop cloth you are prepared to throw away. I wouldn't use plastic. Mix enough Envirotex lite (found at ACE hardware and it took 2 boxes for my table) for the table. If yours seperates for a leaf pull it apart and do one side at a time. Follow the directions exactly, buy one of the suggested mixing cups or something similar and don't scrape out the last bit when you get to the end of pouring no matter how well you think you have mixed it the sides and bottom are not well mixed.
I just used a flat edge piece of heavy cardboard and spread it out. Just lightly blow on the small air bubbles that form until all popped. As it dripped I wiped and just kept doing that until it had completely leveled and no longer dripped. Then I repeated the next day for the other side of the table.
Once that dried overnight I pushed the table back together and it came out great. The envirotex lite did not yellow like other sealers do and it has a strong, crystal clear surface.
I uploaded a pic so you can see how mine turned out. I wish I had a before pic it was so bad.
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