Obviously your motor is overheating. 1 is for sure your cooling system is shot. either you have a leaking system or air in the system. Another is waterpump is shot.
Obviously chris2523 has shared a very informative link for your use. I had the same problem fitting an American Racing rims that has the same spec with your cobra. Chris also helped me out on how to fit it perfectly.
I agree the cheapest way to cover or repair for the meantime is plasti dip. I had rims painted with it and looks great but durability is not that tough.
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