a few years ago, i stripped the clearcoat off the factory aluminum allow wheels on my 94 c1500. i used a product from walmart called, "dad's easy spray". it comes in a metal can, and includes a spray bottle. it sprays fast and evenly, and sticks well since it's a gel, so you don't have to pull the wheel off. once it bubbles up the finish, just wipe it off, then rinse. didn't hurt my wheels at all and they look great.
it doesn't hurt tires if you wipe it off promptly, but if you get it on your skin, it burns like hell in about 10 seconds. so, some latex gloves and long sleeves are a good idea.