I put a complete Schwinn Paramount wheel in an OA bath to get the rust off of the chrome spokes. It worked very well.
I removed the axle and bearings, then coated the bearing cups with a thick layer of grease. After I was done it cleaned up just like new.
My main concerns were the aluminum rim and the spoke nipples, neither of which seemed to suffer any ill effect. I did keep an eye on it and removed it from the solution in about an hour, all that was necessary to derust the spokes.
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1971 Paramount P-13 Chrome
1973 Paramount P-15 Opaque Blue
1974 Raleigh Professional Blue Mink
1991 Waterford Paramount
Holland Titanium Dura Ace Group
Holland Titanium Ultegra Triple Group