There are several ways to skin this cat.
Listed from best to worst (IMO):
1) Take the tire off the wheel, bead blast the rim, prep sand and fill in any blemishes (curb rash, dings). Then prime and paint the wheel just like you would paint a car. You can even use clear coat which is also avalibe in a spray can.
I would rock stealies for a day to let them fully cure.
2)Take the wheel off the truck, clean the rim as best you can(that foam dish soap works pretty good). I also had a dish scrubbing wand to get in the tight spots with out smashing your knuckles.
Then wet sand with 320 (you could use 400 if you have some really ruff areas).
Use masking tape and tape off the edges using 6" strips until you've come full circle. Then get some news paper and tape that around the rest of the exposed tire.
Once your all taped up your ready to put down your first coat. I started on the back side of the wheel to get my technique down. Just go light and get a base down. Wait 10min and put down your second light coat. If you see any debries or bugs got stuck to your wheel in between coats, pick it out and do any light sanding you need to. Painting over it will not make it go away.
At this point the wheel should be looking pretty good. Put down one more coat and go a bit heavier than the first 2.
and thats where I am at right now. If you wanted you could put down a couple of clear coats and that will give you a bit more shine and should last you a good couple of years.
Let the paint dry before removing your tape or you might get some flaking around the edges.
For the Yota symbol, I used touch-up paint and just hand painted in the "T". Looks pretty good, don't it?