if you are low on money and high on time, this is a great way to give your car a new look and your wheels a good revival. I used this method when i bought wheels that someone had painted already and i wanted a different color.
so here you go, start off with the wheels, and unmount them from your car.
now, go to pep boys or another auto place and buy:
paint stripper/aircraft stripper (about 5 cans)
self etching primer (3-4 cans)
paint of your choice (4 cans)
High gloss wheel coating (5 cans)
when you have all this, make sure you have something to scrape with, preferably a wire brush, and a lot of sand paper.
start by spraying the stripper on the wheel and leaving it to sit for 10 minutes, then start scraping the bubbling paint off. watch out becasue the stripper burns your skin if you get it on your hands, and it tends to get all over the place when scraping. as needed, add more stripper and let it sit again. as the bare metal starts to show all over, get a hose and rinse the wheel off. put more stripper on ans really start to scrub the tough spots to get all the paint off.
when its done to the best you can do it, get the sandpaper and sand any rough areas that have hard paint or other grime left on it. if your wheel has a lip, be careful not to damage it beacsue you have stripped its protective coating. also bare in mind, you will have to clear coat the lip later in the process.
this is what it should look like now:
now that the wheel is stripped, get some green painters mask tape and mask around any parts you dont want painted, ie. the lip.
when you are done, you should have this:
now, get your primer and spray very light, very thin coats until the wheel is covered:
when the wheel is primed and dry to the touch, you may begin spraying light coats of your paint. its up to you to decide how thick the coat should be, but remember, ALWAYS USE LIGHT COATS!!! otherwise the paint wil run and your wheel will be ruined. after a few coats, your wheel should look like this:
its important to make sure you get all the nooks and craneys beacsue you will see everything in the light. what helps a lot is when you paint from behind the wheel which you have to do anyway

after the paint has dried, peel off all the tape. if you can, get a compressed air can and blow away any paint dust left on the wheel. now, you need to mask the wheel again, but this time only on the tire, and if you have a lip and havent painted it yet, you need to make sure it is exposed so it can be clear coarted.
spray the clear coat in several layers:
1) thin layer
2) thin layer
3) thin layer
4) medium layer
5) medium layer
make sure that the lip is especially covered well, since it is this coat which will keep the lip shiney and clear of corosion. when you have done all this, you need to make sure you leave the wheels to dry for about a day, just to be safe.
when you are happy they are done, take the tape off, and give them a good blowing with the air canister again. youu are now ready to mount your wheels!
now sit back and enjoy your brand new painted wheels!!!
if you have any questions, feel free to ask