stripping itself would be quite easy provided you have the correct equipment and skills. All it requires is sanding. I wouldn't recommend chemicals coz they are extremely dangerous.
Hearing that you got a floyd I should guess it's somewhat a superstrat style guitar? An electric palm sander would be great for stripping off everything since the top is flat and not curved. Just go slow and not work in any area too long.
Note: Please do yourself and your guitar a favour by practising on scrap wood first.
Visit projectguitar.com for tutorials on using the palm sander.
Assuming it's a natural oil finish that wouldn't be too difficult. Danish oil works well but be aware of the different varieties containing linseed oil or tung oil or whatsoever. Just apply on a soft lint-free cloth and buff.
If you want to clear coat your guitar with lacquer you can try aerosal cans, and none in Singapore is of acceptable quality off the shelves. I've not tried this but I believe you can buy automative-grade lacquer from specialized car repair shops in sg. Those should harden fine. Do remember not to spray on a rainy day as due to humidity moisture will get trapped between the layers of coat and cause whitish hazing.
There is also a wipe-on poly by minwax found in Home-fix. Same application as danish oil. Obviously this won't be as good as a factory-finish. Then sand even working to at least grade 2000 sandpaper and buff with autoglym paint renovator followed by super resin polish. I've personally tested these 2 products on my PRS and they work fine. Just go light on the sanding and everything should be fine. (This applies to all lacquer spray-on finishes) It's too much to compile here.
Please visit
www.reranch.com for the tutorial Guitar Refinishing 101.
Alternatively, you can invest in an air compressor + spray gun set for really professional results but you must have the prior skills first. This set up is costly and should run you in around/exceeding $500.
Does it sound like it's taking more trouble than necessary already? Keep the finish on seriously. It will save you some major headache and heartache should anything go wrong. Besides, your guitar will sound different with an oil finish. This may or may not be a good thing. I hope I've discouraged you enough :wink:
Blocking the floyd and changing pups are more conventional things ppl do on their guitars. Not that easy to go wrong with =)