Here is what I used:
Klean Strip 15 Minute Paint Stripper Gel(The kind that will strip epoxy paint), A Metal Paint pan, 3M Blue Painters Tape, Cheap Foam Sponges, Shop Towels Or It's Equivalent, and plastic scraper. All items were bought at my local Lowes store but any well stocked hardware or home improvement store should have the items needed. You'll also want to keep some water near by as well. This stuff burns if it touches your skin and water will neutralize that almost instantly. It will also work as a "stop bath" for when you are done stripping the wheel.
Once you get the front wheel off you'll want to clean it thoroughly with a good cleaner making sure to get all the brake dust and any other contaminants off the wheel:
Once cleaned you'll need to start masking off the areas you don't want the paint to be removed. You can be liberal here with the tape. I suggest over lapping as much as possible to ensure the stripper does not go where isn't supposed to. Seen here:
Once it's masked and ready for the stripper, using the foam brush, dab the gel on to the wheel. Spread it on evenly with just enough to stick to the surface and not be runny. Then just let the gel do it's work. You'll start to see the paint bubble up before you make it back around to where you started from but let it sit for about 10 minutes. You also don't want it to dry out either because the paint will be a lot harder to get off.
Keep in mind all of the paint won't come off the first tine. I did 3 passes on each side of each wheel before I got all the paint off. Here is one side finished:
Now you repeat the steps on the other side and you're good. Keep in mind that I did not actually go about polishing the lips at all. What you see is what was under the paint.
Here is what you'll end up with.
On a scale of 1 to 10 this a about a 2. It's really easy to do.
Hope this helps..