Depends how good a finish you want. Last time i did it i used one can of primer and one can of top coat per wheel. I get them powdercoated now.
Bite the bullet and get the good shit.( I like PPG) A quart of primer and a quart of paint with all the goodie's to go with it, a cheap ass HF gun and you're set. One quart of paint gets you 2 quart's sprayable... more than enough for a set of wheel's.
Another vote for powder coating. Done that with all of the steel wheeled deuces I've built for at least 20 years.
I gave up on painting wheels a while ago and now powder coat only. Properly coated wheels last forever 5 and clean up easily!
I use either Rustoleum or VHT chassis & roll cage black, which is close to a satin finish. One can and you will have leftovers. My last set of wheels were new, I just scotch brited them up and shot the paint. I have used those old small Duplicolor cans, 1 can would do 4 wheels. Now they sell only the bigger ones.
Hello, We have painted steel rims with many different types of paint, including high temp engine paint spray. They all looked nice when finished. But, as we put on small hubcaps, full size hubcaps and beauty trim rings, the paint came off with the on/off action. The paint was inexpensive and a spray was done prior to going cruising again. Or, as you can see, going to the drags necessitates removing the small center hubcap, plus outside beauty trim rings, causing some "blems." This was one of the last shots racing with painted rims. (across the dragstrip below the orange tower side position, next to the white ambulance parking) Then the last drag racing shot came a couple of weeks later when we said goodbye to the Impala racing class. In high school, I got tired of painting the rims all of the time, so this is/was the easiest way to simulate chrome wheels… sand, primer, many coats of black with prep between the coats…etc. A set of 1959 Chevy small center hubcaps and outside beauty trim rings given to me by a friend. Thanks, GG... Jnaki thanks to @themoose I could see what my hard work and penny pinching did for my next choice, but one with no paint, other than black on the brake drums... a full conversion to a Buick bolt patterns all around to fit nice shiny chrome Skylark Wire Spokes. And finally, after high school, I installed the Buick Skylark Wire Wheels. It was worth the cost. But, the last viewing of our old 58 Impala was this vision… Brand new factory black, Buick steel rims to fit the modifications done for the Skylark Wire Wheels that got stolen. It was the only 58 Impala that had Buick bolt pattern hubs and the new owner was well aware of it. Note: @deucemac has the right idea, these days. If powder coating had been around back then, it would have taken less time and longer lasting surfaces during our old hot rod/drag racing days and adventures. There is a local So Cal place that does powder coating and the wheels that come from that place are outstanding. If it is your hot rod pride and joy, nothing less than powder coating will do. Your area will also have someone that does good quality powder coating…YRMV