If you have the vinyl hose you'll need an adapter to go from 1/8" NPT to 1/4" NPT so that your airbrush hose will mate with your compressor. 1/4" NPT is common for compressors but if yours is different you'll need and adapter for it. Badger makes them and you can see them on this page:
http://www.badgerairbrush.com/access2.htm
It is about halfway down the page and is part number 50-023. Dixie Art (www.dixieart.com) has them for about $5 and I've also seen them at many hobby shops.
Air pressure and paint viscosity are related. The thinner the paint the less pressure you need, but at the same time thin paint does not cover as well. Start with about 15 to 20 psi and adjust as necessary. You should never need more than about 20 psi for painting models.
Be aware that Createx paints, at least the kinds that I've used, are not suitable for models. The paint won't adhere to plastic well enough. Try Tamiya, Testors Model Master, Gunzye Sangyo, Poly Scale, or one of the other paints designed for plastic models.