Proceed as follows:
1. Remove wheel from vehicle.
2. Lay wheel on ground - manky side up.
3. Attack with wire brush to remove loose laquer and white corrosion deposits (drill or Dremmel not recommended at this stage).
4. Using various grades of wet & dry polish wheel to a SEMI acceptable standard ensuring a slightly rough finish to act as a key for overcoat.
5. Degrease with white spirit.
6. Mask tyre off and any other bits you dont want paint on.
7. Apply several light coats of chosen paint or even clear laquer for that OEM look.
8. Remount wheel when new protective treatments are properly dry.
NOTE:
If the wheel has been lightly kerbed, blend the surface gouges out between steps 3 & 4 but don't forget to rebalance that rim later.
If any rim has been heavily kerbed or buckled get it checked for cracks or chuck it away, also polish the mounting face on the rear of the rim and inspect for cracks around bolt holes.
I have done this numerous times and it usually lasts 2 years or more, depends on cleanliness and preparation I suppose.
The above advice is given freely with all the usual caveats etc etc!
