Google will find a bunch of info about not powder coating forged aluminum wheels because normal powdercoating cures at 400°, above the temperature the wheels are heat treated at. Alcoa/Arconic says not to do it too.
Of course the wheels have already been heat treated, not talking about un heat treated aluminum, and the powdercoat cures in like 10 minutes, so it's really not a big issue. I found a paper that powdercoated what was effectively sheet aluminum (very low thermal inertia) and found very minor changes in properties, like 2%. Well within measurement repeatability in my mind. They saw much larger property differences in the as received aluminum, it was about 20% different than the standards for 6061-T6. Made me feel pretty good about the process.
Paper is titled "Evaluation of the Effects of Powder Coating Cure Temperatures on the Mechanical Properties of Aluminum Alloy Substrates" You can google it and download a pdf copy.
I have a set of used wheels I'm looking into doing. They were originally clear coated. I could strip and polish them, but I'd have to polish them at least yearly to keep them looking good. A parent at the kid's school has a shop that does wheel powdercoating. He says he can powdercoat them with a basecoat of a simulated chrome, then a topcoat of a slightly dull clear. He says they'll look like polished aluminum. He didn't recommend trying to clear coat or powdercoat them after polishing. The surface is too smooth for good adhesion. I'm not sure what he charges, He said polishing is like $70 a wheel around us, and sort of implied that's more expensive than powdercoating.