You'll be ok with the frame/angle/channel being media blasted, it's hard to screw that up. The parts you don't want to have them touch are the flat panels on the trailer and the fenders.
I'd start with Saphir 50 and go up or down from there. You'll still need something to get into the corners...maybe chemical stripper or a very very quick localized media blast. Just a quick touch to clean the immediate corner. Wire brushes also work.
That's a very cool [cool] trailer and it'd be a fun project. [big grin]
I should add, last year I refinished a motorcycle trailer using a RAS with Saphir discs and several different style wire brushes.
The Saphir works great on flat surfaces, just move along to prevent putting too much heat into the metal. The wire brushes get consumed at a pretty rapid rate. I was surprised at how quickly they went away.
I used a combination of Pferd & Weiler wheels in both cup and knot wheel styles. Wear safety goggles as the crimped wheels will eject their wires on a regular basis. They sting when they hit you in the chest and get stuck in your shirt.
I used 2 coats of POR-15 to refinish the trailer and then top-coated that. The top-coating is a must.
https://www.por15.com/POR-15-Rust-Preventive-Coating