a. Follow closely here because this is tricky. Hold ctrl and click on the Alpha 1 channel. Now click on the Orange Rust layer. Copy and Paste. (Edit>Copy, Edit>Paste). When you paste it should make a new layer, name this layer Rust Outline.
b. Now hold ctrl and click on the Bolt Shape layer. Now click on the Black Rust layer. Copy and Paste. (Edit>Copy, Edit>Paste). When you paste it should make a new layer, name this layer Black Bolt .
c. Put the Rust Outline over the Black Bolt layer and merge them together (Ctrl + E)
d. Next apply these layer styles Layer>Layer Style>