The reason moly coating was tried was because it was easier to apply and worked better than graphite. But you could easily try. Normally moly was applied in a tumbler (wobbler) so dump a couple tablespoons of graphite in your tumbler, add a hundred bullets and tumble until the graphite was embedded in the copper/bronze...
I'm not an expert on moly coating and I've only PCed about 1,200 of my cast bullets. The PCing is a little more involved than lubing/sizing cast bullets and does most of what it is said to do. I did a bit of research on jacketed bullets a few years ago when I got a good bolt gun in 308 and used jacketed bullets exclusively. Most of the info I posted was from researching texts on the subjects and my personal experience with PCing (I have purchased several hundred Hi-Tek coated bullets for my 45 ACP and they work quite well)...