Motor oil makes an ok rustproofing compound, but there are other ways to do this.
Most motor oil (new or used) isn't viscous enough to require heating. Personally, I would buy several cans of Fluid Film at Lowes and use that. Fluid Film does not dry (critical) and is viscous enough to last. Can be wiped off for resto purposes. The aerosol cans go a long way. If you want a creepy oil to get into frame seams, thin 90wt gear oil with some solvent and pour it in. The solvent evaporates and leaves the 90wt behind.
In Michigan, we mixed 90wt gear oil and roofing cement (the gallon can of runny stuff) and sprayed that on the bottom of a Toyota motor home. It never hardened and made a decent rustproofing. Very messy to apply! You can also make rustproofing from ATF and paraffin, heated, and spray or brush that on. Then drive down a few dusty roads.
Just don't ever apply 'spray tar' (hardening) to a rusty surface. When water gets underneath it (and it will) it traps in the water and salt and accelerates rust. The only place I used spray tar was on the backside of the lower portion of the front fenders on my FJ40 to prevent thrown rocks from denting the fenders.