if you are really intent on doing it yourself, it will take a bit of time, and a load of patience. i am about to do the same thing over this "winter" (i live in the tropics, so winter really isn't an issue, putting the car up for any time is, lol). the best way to do it is to use wet sandpaper starting at about 600 or so and eventually winding up with 1200. this will provide you with removal of the clear coat and removal of all the slight scratches, etc on the wheels. they can then be buffer out with one of the many polishing compounds made specifically for that purpose. check places like eastwood or griot's garage. they both carry what you need.
unless you have done brush pin stripping in the past, i would suggest you purchase one of the pin stripping tools available from places like eastwood's or your local auto body paint supply house. the unit will provide you with the proper width stripe wheel and uses a guide that can be rested right against the outer bead (rim) of the wheel for proper placement. then clear over it again to preserve it. BTW the proper width of the wheel strip is the same as that of the body strip.
the other alternative if you aren't NCRS would be to sell your current wheels on ebay after you do a quick clean up, and buy a new set of pace car wheels from wilcox for about $770. if you get $350 (or more) for your wheels, and factor in the cost/wheel of getting them professionaly redone (polished), and then re-stripped, you are probably just about even with no hassles, (maybe even ahead) lol!!