I am working on a small tank right now and first I sand blasted it, which works really well on the bottom and sides, but not the top of the tank. Then I filled it up with nuts and bolts and turned it upside down and shook it around. Then wrapped sandpaper around a finger and tried to get the inside top of the tank as best I could.
To neutralize the rust I use this water-based stuff I get at Wal-Mart called Krud Kutter, comes in an 8 oz bottle, really cheap. I have used this stuff for years, it works great.