Remove all furniture from the room and spread tarps over the floor. Scrape off any peeling paint or loose material from the wall with a wide paint scraper.
Roll a coat of primer over the entire wall, using a paint roller. Let the primer dry 24 hours.
Spread textured paint over a 3-by-3-foot section of the wall, using the paint roller. Lay it as thickly as you can.
Press your grout float into the paint on the wall, then pull it straight out to leave peaks and ridges.
Press the float back into the paint beside the spot you just worked, then pull it out again.
Continue pressing and pulling the paint, working the whole surface. Stop after every six or eight pulls to step back and assess the consistency of your work.
Spread more textured paint over the next section of wall and repeat the process with the float. Do the entire wall, section by section. Let the paint set for 24 hours.