I was looking through ThingiVerse and came across a printable stencil set http://www.thingiverse.com/thing:17346
This got me to thinking. By making a stencil that is something like 1/8th inch thick, you can make the bridges only 1/16 inch thick and when you use the stencil, face them away from the surface. The spray paint should overspray around the bridge, and you will get clean letters.
Additionally, you can print individual letters with puzzle edges so you can piece them together in any order you want and they will stay together. Or, you can make sets for commonly used words – like a brand name – and they can fit into a envelope for storage when not in use.
Block Letter Stencil by Lemon_Major – Thingiverse
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