It has been 35 years since I built a set of wheel but I would not be adverse to the idea. I don't have a buffer though. I have never used the aluminum jelly and had not really thought about it but I might give that a try first.
Aluminum jelly with 0000 steel wool would wonders on the rims.
Apply the jelly, let it do its things for awhile and them work it in with with jelly soaked 000 steel wool. Work it in 1 direction only.