Hey amishmike23, welcome to the forum.
Years ago, I've had to lace-up rims in worse shape than that one. Would hold rim up to bench-mount grinder with stout wire-wheel, and clear rust from the bead seating area and the middle area, focusing on the nipple holes. If the rust zones are blistered, that could be a weak area, and if the blister zone is under the bead, the tire may not seat, or run untrue. If the rust blister is around a nipple hole, the spoke nipple could pull-thru. And if the nipple hole is too rusted, the nipple may not seat right, or pull-thru. The bead seat and nipple holes in your pics don't look too bad, are those the worst rusted areas?