I refinished my steering wheel a few years ago. I used JB Weld epoxy, followed by high build primer then a top coat of Rust-Oleum Appliance Epoxy and it came out great but It chips fairly easily. I’m going to repaint it with 2K Epoxy (epoxy paint with hardener) which should be more chip resistant.
Here is the post where I documented it.
I wouldn’t let a cracked wheel stop me from my first drive. The wheel has a steel core, so the cracks are superficial and only cosmetic.