That bike has aged well but for the flaked off chrome. As you probably know, these days keeping classics original with just normal replacement of spares and minimal touchups is cool.

I'd flake off loose bits and then treat the rust with a converter and then touch up with chrome paint to protect it. Unless you suspect there's still rust under all of it after converting. Haven't tried the plug n plate. Once the chrome plate is back I'd think you'd still need to polish it somehow. Probably end up looking about as good as chrome paint. Maybe try the $10 chrome paint and if it is awful try other optikns.

If you do decide to strip, rechrome, and repaint just the fork, a good painter or paint store can match the likely slightly faded blue. But polish the blue before bringing in to match.