[Tim7139]

This is pretty straight forward and easy. First off drop the sanding idea or you will screw it up.
This is the method I used to do a period Nardi wheel with ebony insert that came out lke new, told to me by a pro restoration guy.
First off get a fairly moderate furniture stripper like Formby's and a couple non-metalic, plastic or hard rubber narrow scrappers. Give it a liberal dose and keep an eye on it as it begins to react and soften. It will get to the point where you can really begin to make good progress and get rigt down to the wood in short order.
When you get it really off, there may be small remnants left but the tough stuff is done.
After that a degreaser or wax remover helps, you may need light sanding with fine, like 400, grit.All the chemical stuff....use rubber gloves.
Now, mask off the metal and wipe it down with a tack rag and you're ready for finnish.
I used plain old semi-gloss Varathane, which replicates the factory gloss.
You want very light coats to begin and let flash, the initial coats don't look like much because they soak into the wood. Hang the thing in a warm garage or direct sun between coats, it may take a good 8-10 LIGHT coats, let them get pretty dry. When you're getting close the gloss will really start to come up and when dry will look pretty good.
After all that leave it alone for several days and let it gas out and then polish out the aluminum and it will look good.
I liked the Varathane because it has UV protection and mine never yellowed after 15 years.