BigStrok3, I just finished sandblasting the complete front end on my 66. See this thread.
http://www.forabodiesonly.com/mopar/showthread.php?t=43321
As Leanna said, use a #4 Fine sand and it will work properly and do a good job. In areas like the engine compartment, you don't have to worry about warpage from the blasting. There's enough bends, inies and outies, that warpage won't be a problem. However, NEVER do sandblasting on larger body panels such as doors or quarters, because you will get warpage.
A good trick to save some time and sand is to go over everything quickly with about a 40 grit sandpaper before you start blasting, and it will allow the sand work much faster. Also, along any seams where there's old caulking or undercoating, use the edge of a scraper to loosen everything and it will also save you a lot of time. I also keep the scraper handy to loosen up small bits of undercoating that take forever to blast if you don't give them a little scrape.
As previously mentioned, make sure you wear a good respirator with filters, because this stuff can do some major damage to your lungs. The other necessity is a blasting hood, with lots of spare lenses for it.
I've never done any soda blasting, but I don't believe soda will remove rust, so sand is much better for the area you plan to blast. Good luck.