X 2 on 2 pac
Polyurathane is another option. Good chip resistance
http://www.vhtpaint.com/products/wheelpaint/Or epoxy
http://www.vhtpaint.com/products/epoxypaint/Ignore the "no curing required" quote on the page - takes 7 days to cure
Good call rds - a lot of effort and $'s can be spent referbing old rims, often at the same or higher cost of new and rust free ready painted rims... depending on what your or your painters time is worth
edit - and of course factoring in what sort of new rims you want and the price of those... cheaper to refurb alloys, more viable to buy new steelies