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You can, but probably not for everyday living if you have family that uses it every day. Here's on person's experience.
Click here: http://www.addicted2decorating.com/i-painted-my-sofa-before-after.html
Good luck!
I wouldn't try it. If you want another look or cover up messes you can put throw pillows and throw blankets over it or you should consider a slip cover..
You can, and I've seen fabric paint and chalk paint used on projects. Would it be easier to slipcover it? If you want to paint here's some help:
http://www.hometalk.com/search/posts?filter=paint%20upholstery
Painting a large scale sofa isn't really going to give you the same outcome as when you paint upholstery on a smaller sale. You can try it, and then slipcover the sofa if you do not like the results. I would use a slipcover regardless, because the cost of the paint and effort will be about the same.
I think what I would do is go for a medium to light grey color first as an "undercoat". It may take several coats of paint to achieve the look you want.