Super55 I have no experience with powder coating, but Im pretty sure that they will chip unless your extremely careful. Id rather not risk it, so I'll stick with paint.
Dan, if you have the lock ring removed, take a sawzall and cut a ring out of the tire face. Pull the tube and that rubber ring. You'll have full access to the rusty inside and can hit the rust off with a sledge turned sideways. I had to do this for a few of my wheels. Didnt take much persuasion after that.