Personally id powdercoat them, but if you are on a budget, sand them down really well. Go buy duplicolor paint in the color you want. Buy a few cans and spray em down, 2 or 3 coats. Buy a few cans of duplicolor clear as well and lay a coat or two of clear down and bam, painted wheels. With sanding and drying, id make sure you dont need the car for the weekend.

heres a nice turorial on how to paint wheels. Should work well for you

here

http://formztsi.tripod.com/wheels.html
http://www.dsmtuners.com/forums/showthread.php?t=88747

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