I have been researching tools for removing the undercoating.  I have narrowed it down to 2 tools:

This is one: Dent Fix DENDF701 Metal Blaster Mbx Kit
You can resharpen using a grindstone and running in reverse.
Course wheel for undercoating
Medium  wheel for heavy rust
Fine wheel for paint

Here is another idea:

I plan on giving both of these a try – luckily, I only need to work on the wheel wells and not the entire car!

Made a little bit of progress this weekend.  The weather was nice on Friday, so I took the day off to roll the Camaro outside and power wash the floor.  The Camaro was on the rotisserie which enabled me to move it outside.  The one issue is the front half of the garage has bad cement on the floor.  I was able to use a pry bar to persuade it along in the rough spots.

I was able to determine that my car only has undercoating on the wheel wells and not the rest of the floor which will make it easier to strip.  I still need to clean it with some PurplePower and Wax & Grease cleaner before stripping.

From the back of the garage:

through the front half:

the bad parts of the floor:

Getting there!:

and she is outside!  Went nice and slow going through the garage door as it was fairly narrow – suggest having 2 people to keep things straight if you are doing this.  Ready to power wash!:

Notice the leaf blower which I used to help dry the car faster.

About a half day to move it outside, power wash, dry, and move back to it’s resting spot.