"My only issue is going to be getting another tapped hole in the bottom of the tank...."
No need for another tap. From your present drain plug, add street elbow, close ******, a tee (1/2"). On one end of remaining tee outlets, add a close ******, reducer, from 1/2" to 3/4" (female), add 3-4" 3/4"******, another reducer, them screw the threaded anode (linked in my previous post) into ****** assembly. You need the reducers to increase 3-4" ****** diameter to 3/4" to fit anode diameter . Other side of tee used for drain valve or auto drain. Even if tank is drained, a thin film of water remains to create a circuit; anode still sits in water if tank is drain due to 3/4" ****** assembly. Compressor water is always acid on the PH scale due to sulfuric/nitric oxides and other pollutants in the air, thus adding to conducting ability; granted, it would be better with the anode full submerged but that is the limitation of this scenario, unless your tank has a 3/4" drain tap, I doubt it.
Actually they make smaller diameter threaded anodes which would be easier to plumb, you might get one small enough to insert through average drain plug. They would need to be replaced more often. 3/8" would likely do it, requiring a close ******, one tee, the anode and a drain setup off the remaining tee port; anode would actually stick up into the tank.
http://www.starmarinedepot.com/b&s-...omplete.html?gclid=CLnTgOm84tECFYWKswoddU4ORA
Anode with built in drain....
https://jet.com/product/detail/9518...2&code=PLA15&gclid=CIfDrpa_4tECFZiIswodrucMsg
" Sacrificial anode rods are a maintenance item."
How much effort is it to wrench out a threaded anode every 5 years to check it, perhaps 60 seconds to remove it, same amount to replace or reinstall.
To add....anyone thinking about coating the inside of a tank, best you make sure there are no solvents vapors above explosive limits once your finished or your compressor might explosively change street addresses, along with you.