Hi everyone, I have a 1984 Trek 420 and a few of the spokes on the front wheel are starting to rust. The bike is left outside under a cover all of the time. I know, I know, nobody on these forums keeps bikes, especially a steel one, outside. But I'm a poor student and live in a small apartment building with no landings to keep the bike inside and insanely tall steps make it impossible to carry the bike upstairs. (old, crappy building)

Anyways, I was thinking about taking the surface rust that's accumulating on a few of these spokes off with some steel wool and using clear nail polish to coat the spokes to prevent more rust from forming. Can anything bad happen by doing this? The wheels are the original 27 inch Weinmann alloy wheels made in Belgium (or so it says).

Thanks in advance for your help!