Determine the source of the moisture. Persistent condensation is often caused by leaky plumping or poor ventilation. Poor ventilation is most likely to affect utility rooms, bathrooms and kitchens during cool months.
Resolve the moisture problem. If it's caused by a leak, fix the leak. If it's caused by poor ventilation, place box fans in the doorways and windows of the room. If it's caused by a splash from a sink or shower, avoid using that water fixture until you've applied the new coat of paint.
Sop up the condensation with a towel. Wait 48 hours for the wall to fully dry.
Peel off any blisters that formed in the paint. Sand down the corners of the blister.
Apply your paint.