You can create an Opacity channel for paint layers that lets you paint a transparent effect on a mesh, useful for simulating transparent real-world materials like glass and ice.
Areas that you paint now appear with a glass-like transparent effect.
To change the transparency effect from the default glass-like appearance to a more cut-away effect, change the Opacity Affects property of the material from Diffuse Only to All Channels. To open the material properties, right-click the model in the scene and select Edit Material from the pop-up menu that appears.