Flexy.... I read a thread on a different web forum where a guy had tarted up the wheels on his old LC. He said that he rubbed down the corroded surface, might be a good idea to use something like a Dremmel, then he used a decent primer and then silver wheel paint from Halfords. The displayed photo looked quite decent and would have looked better if he had cleaned his tyres
I don't think there is a real knack to this type of DIY job other than good preparation and patience. You might want to consider a good laquer as a top coat if you are happy with the silver finish. Do you have a good auto paint supplier in your area? If so approach them and they might suggest the best paint for the job, my local supplier is a wealth of good information.
Good luck with the job and maybe you can post up a photo or two when the work is done