I don't think you'd like to go to the trouble of removing the rust, which might damage the blades if the fans are that antiquated. Ford Black and silver, maybe others, too. Consider the wheel balance. No, I don't work for Tremclad. In essence, use the K.I.S.S. principle.
Simplicity is always the keynote to success.
If you can disassemble parts, the better the end result. For rust on steel, I start out with wet sanding. I use a new, cheap paint brush to apply. Also, watch any splashes that get on skin, especially the eyes. A somewhat safer way is to use a phosphoric acid product like Naval Jelly.