Thanks for the tip and instructions John, I've made an attempt to find those stripping products but without luck. But I think I know where to get it now though.A little of both.
First you have to strip off the rest of the clear coat. Don't bother trying to polish it off; you'll drive yourself crazy. I use a product called Citristrip. Another good choice is called "Aircraft Remover." Whatever you use, make sure it's safe for aluminum. Some products can cause more corrosion and others can discolor the aluminum. It's easiest if you remove the triple clamp from the bike.
Once you've got the coating out of the way you can evaluate the corrosion. If it's not to heavy you can try some metal polish. If it's deep you can use aluminum oxide sand paper. Start with 220 grit and work your way up to 1600 or 2000. Avoid emery paper, steel wool, or any abrasive with iron or steel in it. Finish with the polish.
When you're finished polishing you can try to clear coat it again, but I've found it's hard to get good adhesion on a polished surface. There's a product called "Sharkhide Protectant" that works well.