I would scrape it off with a razor knife, preferably with Xacto blades in assorted shapes. A chisel with a safe side will help at the lug edges. That will be the difficult bit. Score the line first. An optivisor or similar magnifier will make it much easier. This method assumes a certain level of hand to eye control that not everyone has. There isn't an easy way to do it, other than stripping the entire frame.

Masking won't work. Sandpaper will ruin the chrome. A wire wheel might be helpful, but it would be easy to damage the surrounding paint, and it won't work for the edges at all.