The size of this ellipse allows you to get two of them from a single 4x8. So if they have two of them you're golden.
Yes. After you cut out your ellipse you put it on a piece of plywood, held in place with four screws sticking up out of the wood. You start your trim at some point on the ellipse (usually bottom center) and secure it against the face with a couple of screws. Continue around the ellipse, bending the trim around and securing it with screws as you go until you've made it all the way around. Cut it so it ends up flush with where you started. Make sure it is touching the face all the way around. Then, using a small plastic bottle with a blunt needle on it (you can buy this from the
sign supply also, and it's reusable) you flow the liquid cement into the joint between the face and the trim. It doesn't take a ton to get it to go, and it will wick along the joint the same way that solder does on a wire joint. The cement melts the plastic, creating a plastic weld. Leave it a while to evaporate and harden. You can then use a tube of the gel cement to run a little bead around too, as mentioned above in the thread but if you have good adhesion and seal it's not absolutely necessary. Once it's fully cured (the next day) it's ready to install by putting it over the
sign can and then putting screws through it into the can.
If, when you get the old face off, you find that the vinyl comes off without leaving any ghosting then you can reuse the old face. So I wouldn't buy the supplies until you do that.
Yes, you leave the internals of the
sign exposed while you are working on the face. It's best to get the new face on as soon as you can, but the lighting components are outdoor rated. In that respect, unless you keep the trim and acrylic on hand in your shop, I'd test the plastic for ghosting while it's still installed. If it doesn't have ghosting then proceed to take it down (or letter it in place if you like doing that on a ladder/scaffold) and take it back to the shop to letter, or if there is ghosting leave it in place and order your materials.