I use Flitz Metal Polish (Ace Hardware or
www.premiumautocare.com) with a terry applicator (more bite than MF). You will probably need 1 applicator per rim. I remove with an MF towel.
Of the 3 or 4 metal polishes I have tried, this one has superceded in all aspects.
It will work on painted/clearcoated surfaces as well, but if you have a general paint polish, that would work as well.
As far as clearcoat chipping, you will need them refinished from a body shop first. The polish is only going to abrade the clear away even more.