I've used 3M striping tapes for the beltline but would not have the knack to use them for wheel circles. Maybe there are circle templates, but I could not find tthem at the link above.

I ended up paying a painter to paint on the stripes. He used a Beugler Pinstriper Tool with an 1/8" width tip (some stripes were 3/16" - your choice).

I gave him a front-wheel spindle and wheel-hub/brake assembly that he mounted in a vise. He mounted the wheel on the hub and then spun the wheel as he touched the paint brush/tool to the wheel. This gives a nice circle but you have to have a good touch.

My painter cursed at me because I had the tires mounted and the stem got in the way of one the stripes (he let out the air and pushed the stem back).

Tim