Just sand them down, polish with some fine grit and repaint. In fact my current wheels (pictured in the thread below) now have a good amount of wheel rash and I'm going to sand them and repaint.
You do have a lot of prep to deal with but a powder coating might hide much of the defective areas. If you are looking for a factory finish, I'd look for some second hand wheels before investing all the time it will take. Can be a great way to replace wheels and tires at one time.
I've done 2 sets of wheels on my Miata and the process isn't hard on wheels in good shape, more trouble when they get to looking like yours.
get some aircraft stripper from O'Rielly's and spray them with that a few times, and take some sand paper or the spongy sanding blocks and clean them up real good. I used VHT wheel paint on mine and they turned out pretty good,