Spraying and rolling are the the simplest ways to apply compound to a ceiling. You can rent a compound sprayer from a construction rental store, or you can use a paint roller and an extension rod to roll a thin coat of compound on the ceiling. While the compound is still wet, use a large drywall trowel to smooth it relatively flat. Multiple thin coats are better than one thick coat, because the compound shrinks as it dries. For a quality skim coat, you may have to apply three or more thin applications of thinned compound, smooth them flat and then sand each one with a drywall sander before applying the next coat.
Smoothing out wet drywall compound until it's flat enough to pass for drywall can be difficult. Smoothing it out overhead is even tougher due to neck and shoulder strain. If you find that your ceiling is not as smooth as you’d like, even after multiple skim coats, you can apply ceiling texture. This is applied in the same manner as the skim coat, but you'll create a textured pattern in the compound before it dries.
Textured compound ceilings may feature stomped patterns made by smacking a wet brush repeatedly against the ceiling for a stippled effect or by smoothing just the tips of the wet compound to achieve a “knockdown” design. Spraying compound at high pressure creates an “orange peel” texture, and hand troweling in semi-circles or other shapes can mimic a stucco-like effect. Before applying ceiling texture, practice on a scrap of drywall until you achieve a design you like.
Concrete is porous and transfers moisture from one side to another. If your concrete ceiling is exposed to the elements, and the interior surface becomes damp, it will compromise the texture on the ceiling. Compound that becomes damp and then dries can develop yellow or brown stains. If the compound is continuously wet, it could soften and fall from the ceiling.