I have fabricated specialty wheels for round track race cars and pull trucks using a heavy duty brake drum lathe, but those wheels were used in off-road situations where all the participants knew the risks of modified parts and willingly accepted the possible consequences. The failure of a modified wheel on a public road where not everyone is informed of the possibilities might open up a huge can of worms, liability-wise.
While I might be very confident in my ability to fabricate a safe, usable wheel, in case of an accident some ambulance-chasing lawyer might not share that opinion, whether or not the wheel was the cause of the problem!
Jerry