I'm not modding, I'm improving
As most have said, SRP is a polish. It has fillers, which mask small swirls and scratches, but people mistake this for protection.
It is not a layering product, by the fact that it removes surface contaminants. So you would be effectively removing any fillers from the previous application of SRP.
Wheels, by nature of their location, get very hot (brakes/tyres). You therefore need a high temp wax/sealent. Therefore, FK1000p or Poorboys Wheel Seal are the best options. EGP will serve you well, but will not last due to the temperatures it will experience.