Be very very careful restoring magnesium alloy wheels - prone to internal cracking and corrosion. Chromate is there for very good reason!
Such alloys are common in aircraft industry such as Helicopter gearbox housings but these require clean after every useage at sea.
Another specialist Ian Jemison is up near York:
http://www.lukafoto.com/racing/page17/page17.htmlThey have plenty of experience refurbishing competition wheels where stresses are higher than gentle smooth road useage.
Oven before protection and painting process is vital.