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editing it manually is just so much damn work, figuring out what color is where and shit is exhausting 

You're going to need to grab the model in FBX or blender form, which can be found on the LC modding discord:

This video covers some of the painting process: 

You will not have to do the unwrapping thing since the model is already unwrapped, and instead of creating a new texture you will need to open the existing one but otherwise, it's mostly about going in the Texture Paint tab and painting on the model!

I can't find the FBX/Blender file since the Discord link isn't working and I can't find it on internet. Can you send me the file please? I would like to make a custom suit for a group of friends but doing it wiith Photoshop is pretty difficult :(
Anyway, thank you for making this quite useful program! Have a nice day/night!

Sorry for the delay! Here's a link which should work: