Hector,
With most humble apologies to Robert and Keyworth, you don't need a mask, template, or any other of that
other stuff . They don't know what they're talking about (insert evil laugh here) Just kidding, guys....Actually, we all have our own techniques....this is mine:
Spray the resin wheel flat black...the whole thing. With the airbrush on a fine setting, take your base color, and "dot-in" the color, as if trying to paint the rim polka-dotted. Allow the dots to overlap some so that the black barely shows through. This gives you the first hint at faded paint. Don't be too concerned about minor overspray onto the tire; a wash will take care of it. Take a black, or other dark wash and run it around the rim wher the tire joins it. That should adequately any remove any overspray. Drybrush and you're finished!
Good luck with whatever technique you decide to use.
Gip Winecoff