Muscle Car Review just ran an article back in Oct 2014. Great piece on Rim Resto by Mark Ehlen if you can get your hands on the article. If not..they took rims from a '70 Chevelle SS from rust to new again. They treated them just like normal work to a body panel. I pretty much typed exactly what the article stated by a shop that's been restoring car for 25+ years. There may be other ways as well.. I'm sure
1) Removed all rust by media blasting, cleaned/degreased
2) Applied body filler (your choice) directly to the pitted or deep scratched areas, then sanded and feathered just like any body panel would be.
3) Applied 1 generous coat of Polyester primer then lightly hand sand with 240 and then 400 grit paper
4) Red Scotch-Brite pad in the hard to reach areas.
5) Applied 2 coats of DP50 epoxy primer (3 coats of primer in total). After lightly hand sanding again the entire wheel is wiped down with DX330 on a lint free cloth and then tacked
6) Paint
Hope this helps