there are better paints than rustoleum. It, like most, are an enamel--- which is on the softer side of things.
The best wheel paint I have found is made by duplicolor. they make a lt grey, a dark grey, a clear, and I believe a black. I have painted wheels, doors, engine and transmission pans in this stuff, as well as skid plates on my old jeep. Best strong paint I have found. If they have it in black, there you go.
You can also find black in a lacquer spray can in the car shops, and sometimes places like Home Depot. It dries fast and hard, however it is by nature very thin, so if you have blemishes in your prep work, it will show through. It will stay black, and be far more resistant to scracthes, chips, carwash brushes, etc., than rustoleum. may cost 1-2 dollars more.
If you use the duplicolor, note the directions. recoat within an hour or AFTER 7 days. This stuff takes a while to completely cure. I've driven it day-after without problems, but you can tell it's still soft for a few days. The clear coat goes on best with practice to avoid thick hazy spots. Sturdiest rattle paint I have found. Could probably do the duplicolor wheel clear over lacquer black, but I'd make sure the black was completely and totally done drying/curing first.