I think I'm missing a nut.

Okay, so you just spray the Fluid Film into the cylinders through the spark plug holes?
I would get the engine so the cylinders are straight up vertical on the stand, spray a good amount in each cylinder and rotate the engine a couple of complete turns. That will coat the cylinders good. You need to shake the can well, as it has a rattle ball like spray paint. I would also then flip it upside down and spray the combustion chambers too, then return it to the upright position.