If you are prepared to experiment a bit, you could try either the paint restoration kit from Autoglym or from Meguairs (both available from Halfords) - it would be helpful if you own, or can borrow, a polishing machine for this job.
Both kits will contain a cutting compound which will help restore lustre to old paintwork, even in the case of Rosso which tends to suffer from UV degradation in the base coat. Go on t'interweb (YouTube) to see what can be done.
Both kits from recollection around £50-60, but Halfords currently has a sale on AG kits so it might be cheaper. IIRC it is a BOGOF, so get the Clay Kit as well which helps decontaminate the surface and will stop you scratching the paint further when using compound and polish.
The other option is to ask a car detailer to do a paint correction. Given that you are also asking about lacquer peeling, this might be a good idea, as they might be able to tackle this for you, too. There is no reliable way of solving or stopping peeling short of a localised respray.