Steering wheels can be repaired (with epoxy) then refinished. Believe Mustang Monthly has done how to articles at least a couple of times over the years
As far as repairing trim general its not a do it at home thing - at least not all of it. You'll need to strip the anodizing, removed damage, sand and polish then re-anodize
If you have allot of time and patiences you can repair and send it out for replating. Did that on some of my trim (on the 71 Cougar) last year. Since I don't do it often it took allot of additional time (read days) and I would have been better off having someone else do the job IMHO