Nice bank angle.
I see a lot of red buffing pads in your future from the oxidized paint. Without seeing it in person it's hard to tell how bad it is, but hopefully you have enough paint film thickness to bring it back without going through. I suspect you'll have to use a rotary buffer and some compound, but I'd start with the least aggressive method required to get acceptable to you results. The only right way to do it is to get the dead oxidized paint off of it. Then you'll have to keep it polished and waxed to prevent it from happening again.
Just about anything can be brought back with investment in time, proper equipment, materials, and paint film thickness, even if you have to color sand it.