My favorite way of removing rust from chrome (rims, exhaust, engine bits, blinkers, handlebars) is to use the plain old SOS pads or Brillo pads that you buy in the grocery store for cleaning pots and pans.
With water from the garden hose and yer elbow grease, they'll remove rust completely withOUT damaging the chrome at all (as long as the chrome was good to begin with - that is, not flaking off underneath the rust). And the soap they're impregnated with cleans and shines the chrome brilliantly.
The only downside is that it doesn't leave any "lasting" protection, like a wax or anything.
Good luck,
Kirk