painting stock rims is the way to go when you are on a budget to buy new rims haha... I painted mines black and white before.
You should prep the wheels by spraying some Aircraft paint stripper to remove the clearcoat on the stock rims. Afterwards, wet sand the wheels to a smooth touch. Then start off by spraying some primer (I used 2 layers) with 30 mins in between each layer. Then spray some wheel paint (I used duplicolor and it worked really well for me) and I sprayed around 3 layers again with 30 mins in between each layer. Afterwards, spray 2 layers of clear coat, then let your wheels dry over night.
A good tip in spraying your rims if you don't want to take off your wheels is by jamming 3x5 index cards in between the tires and rim. As for spraying the lip blue, I think you should tape off the center of the rims with painters tape so that you wont accidentally spray it.
Pics:

(before)
After:
Pics on car: