Depends on how rusty you want it. For a lighty burned rusty effect, lightly drybrush with a rust color, then a brown, and finally a little black. For a heavily rusted exhaust, paint it overall rust color. While still wet, cover with flour. Let it dry for a while, till the flour is hard and stays on the piece. Gently tap or brush off any loose flour. Repaint with the rust color. Next follow the same drybrush steps as above, but go heavier on the brown and black, and do a final drybrush of the original rust color or slightly lighter. You can modify the above to get anywhere in between as well.
Good luck.