Now you know exactly why Cragar SS wheels suck. If they aren't kept waxed, dried off every time they get wet, and stored climate controlled for the winter you get rust.
Unfortunately, there is no good repair, just sorta repairs to try to hide it.
A friend of mine took a very old set of Rocket Racing wheels that were Cragar SS knock-offs back in the 1970's and had them blasted, then powdercoated Bright Reflective Silver followed with powder clear coat. They look like new, but don't look chrome...they look like polished aluminum, the very "bright" look chrome has isn't there.
He had something like $300 into the whole project though, so it isn't dirt cheap.
He also had all the die-cast emblems and the headlight rings and grill done too at a later date to get some continuity to the whole look of the car and it came out great....but if you are picky or anal, you can tell it isn't chrome.
For me...polished or brush finished aluminum for the win....as it can always be refinished back to looking new with just some effort.