If you're doing it for looks, fine. I don't know why you didn't say so earlier.

I've done all kinds of stupid **** for looks:
-Spray painted seatpost: bad idea. makes it too fat to fit, the paint chips, and winds up in the BB.
-Spray painted hubs: works great. once laced, they barely cantact anything that would chip them.
-Spray painted rims: meh. chips.

Basically all this stuff was parts I got free/cheap, and didn't really care if I ruined. I know to mask off the races, etc.

You're going to go through a lot of work to unlace your wheels, strip the paint (I'd use paint stripper, then sand, then polish.) and relace your wheels. If you're fine with that, go for it. Post pics.