Poboy

I'll just post it here. It is not one I typed out, but one I found on the net. I haven't tried it out yet, but I have some experience painting and it looks pretty good.
http://www.924.org/techsection/wheel_refinishing.htm
I would personally probably find another polish besides the Mothers, maybe Blue Magic or a more professional one. Also, on this site http://www.pelicanparts.com/cgi-bin/...ts&re=on&mh=20
They have Wurth wheel paints, including a gloss black, which according to the ad are used for refinishing german car wheels (what difference the car makes I don't know). Good Luck, and post up your results.
Oh, and if you don't want to repaint the inside of the wheel, keep an eye on the cleaner so it doesn't drip down the back.

EDIT: Don't overspray, or spray from too close. Keep the can ~6" away from the wheel. Start spraying before the wheel, continue in one motion past the wheel. Stop spraying. Repeat. It doesn't matter if you don't cover every inch, just spray multiple thin layers.