restoring original steering wheel

My 70 Duster has the original steering wheel, complete with the usual cracks around the outside rim. I was thinking of filling the cracks with body filler, sanding, sealing with ?, and spraying it with a rubber/vinyl/plastic friendly paint.

I haven't done this before and would appreciate any tips. Thanks.

Here is a step-by-step article with all of the details.
Gallery: Low-Buck Steering Wheel Repair On a 1967 Dodge Dart - Mopar Connection Magazine | A comprehensive daily resource for Mopar enthusiast news, features and the latest Mopar tech