what I did when I did the wheels for my oldsmobile (I "upgraded" from steelies to rallye rims) is to completely strip the wheels of chrome, valve stem, tires, etc. Then I sanded out all the rust (I didn't strip them to metal, but I'd probably reccomend it), then I got normal body paint that I had left over from repainting the car, threw it in the paint gun and went to town.
There are places (though I don't know of any offhand) that will do powdercoating in any color you want, and it's more chip and heat resistant than normal paint. If I had the money and reallly cared about it (I don't, because the olds is my daily driver and I'm going to be restoring it after I'm done with the truck), I'd have gotten them powdercoated. I'm thinking that powdercoating the frame and running gear on the truck is the way I'm going to go, because it's chip/abrasion and dirt resistant.
