I've repaired tacoed wheels like that by pumping the tire up hard then holding the wheel at at about 45 degrees to the concrete and then firmly striking the edge with the high spot against the concrete and springing the rim back. Sometimes you can lean those high spots against something and with a firm push get the rim to spring back. If the wheel's only $30.00 though I'd get a new one at the earliest time I could afford it.

sheldon Brown's site says this:

"Broken spokes, minor rim bends and even "potato chip" wheels can often be repaired well enough without bike shop tools to get the bicycle rolling again, if your skill level is up to the task."

On-Road Bicycle Wheel Repairs

Cheers