Well, I guess it really depends if it has a clear coat or not. Here's how to tell:
1. Clean the wheel
2. Take a white rag and polish to the wheel. If the rag is clean after polishing, then you have a clear coat on the wheel. If the rag is red (if used on red part) or black (if used on black part of wheel), then you do not have clear coat on the wheels.
If there is no clear coat, then you can take some 1000 grit sandpaper to the red stripe. Just go in one direction. After the red is gone, you'll need to polish the area again. Start with wet sanding with 1500 grit in opposite direction of first sand. Then use 2000 grit in opposite direction of second sanding. Then use polish in circular motion.
If there is a clear coat, you can possibly follow the same steps but it will take much longer. Also, you will either need to re-spray a clearcoat on the wheels or polish them on a regular basis.