Experts, please chime in!

On my steel wheels I blasted them and then put a single coat of DP 90 on them and then painted over that. The first place they will want to rust is down in the seams so clean those up and pour a little primer down in there and brush it into the cracks. The air from the gun will make it hard to get primer and paint down in there.

I did clean up the nibs and orange peel on the primer.

Too much material will bury the stamped part numbers FYI.

Clean, sand, clean again, prime, paint. I paint them laying on their backsides and at a lower pressure. Start with the areas where the spider meets the barrel to be sure you've sealed those areas. The better-quality primers & paints have made a difference as far as being easily chipped.
Haven't had a rust problem with that method. I HAVE had a minor rust problem on a set of wheels I had powder-coated.

e-coat is a poor excuse for a coating...it's much less than the thickness of paper and the corrosion test results I've seen were "so-so" at best. Topside & Neil have the right idea. Getting down to bare metal is critical & the most rust-prone areas are the seams.

The absolute best thing to do, if viable, is to get them dipped in a non evasive stripping then on to e coating. Lightly scuff the e coat and prime with a urethane primer surfacer. Sand. Then paint as you wish. Will be around a lot longer than we will see.

There is certainly more than one way to do it.... and OEM's vary. All I can say for sure is from my own personal experience coating OEM wheels. I sold powder coating & competed against e-coat and supplied BMW, Enkei (aftermarket Japanese in the USA & OEM for Honda/Toyota in Japan), Mercedes and Chrysler, all of these in the USA and in Europe.

E-coat is much faster & much cheaper. It does offer "some" corrosion protection, but it is applied at 0.001" thick vs. typical powder coating applied at .015"-.020", so it's much easier to chip from a rock on the road. All OEM's that I'm aware of use an epoxy primer....some use e-coat + epoxy primer and others use just epoxy primer. Epoxies offer the best corrosion protection of any primer. The color coats are typically either urethane or acrylic (they are good with UV-light from the sun while epoxy cannot take the sunlight) and 90% of the clear on top is acrylic, though a few OEM's still use urethane as the clear. Acrylic is more expensive, but is less likely to chip than a urethane.