I cleaned my wheels thoroughly with Orange Blast cleaner, then wiped them down with a lint free cloth and 93% rubbing alcohol. Remove center cap, or don't. Then I taped off the holes from the back side of the wheel so I wouldn't get overspray on the inside. Also taped the valve stem. First wheel I taped off the tire, then I decided to stick playing cards between the edge of the wheel and tire, where the bead is, makes cleanup easy.
If you are experienced at painting you can do it in one coat. As I did mine this way with no drips at all. If the plastidip drips or pools it won't dry right. It'll look splotchy. Otherwise do light, even coats. 4-5 coats should yield a nice finish.
I painted over the wheel weights.
Remove the playing cards while it's still relatively wet to avoid peeling the edges away.