I also live on a small island (not a million miles from the IOW) and ride a 2015 T-bird LT. I use ACF 50 on my wheels and also on all hidden parts (be very careful not to get it on the disks or the tires!
) With your wheels you will need to see if you can clean the rust off and then see how pitted the wheels are. Scotch-bright is great for cleaning off rust, but be very gentle to start (best to use a fairly worn piece first). Even if there is some pitting on the wheels the ACF 50 will stop it getting any worse.
If your wheels are past renovation I believe the only option is to replace them with the same. There was a thread a while ago on the subject of fitting Commander wheels to the LT but I don't know if anyone has done it.
If you do find an alloy replacement wheel then let me know.