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From the reading I have done (because I have the same problem) there are several ways to go about this. All involve removing the interior and rails.

1. Soda blast or sand the interior smooth and gel coat it again.

2. Sand it and fill any divits or holes then coat it with a high hide protective paint such as Ultra TUFF or Rhino coat bedliner or Line-X.

3. Grind out and fill in all cracks and divits with epoxy or polyester resin and then paint it with a top side boat paint or a two-part polyurethane boat paint.

4. Grind out and fill all cracks then sand smooth and add a new layer of gelcoat.

I am currently leaning towards item 2 and using the Ultra TUFF coating as I have read that the new gelcoat will just crack again.