I just repaired both my spin out rims. I had both rims needing repair. One rim had a hole large enough to stick my fist through. The other had a hole about 1".
The other post was right about needing to repair more than is seen. The large hole required a "patch" of about 8" and the smaller hole actually spread more laterally and required a piece about 10".
I accepted a donor rim from my local tire shop that had a bunch of pieces cut from it already. It had the same profile as my spin out rim. I used a cut off wheel to remove the pieces from the donor and used them as a template to cut the bad pieces from the rims.
Bottom line, a LOT of cutting and welding to fill and replace, but at almost $400 per rim, 2 nights of cutting and welding were worth it to me.
You really need a donor rim to make it a LOT easier on yourself. Try you local tractor tire dealer and they may have something sitting around that you can aquire or purchase. They may also do the work, but I'd bet it will be costly.
After the patch, I had the rims sand blasted and found 3 more minor holes that I just filled in with weld and ground flat.
I was only able to purchase Massey gray paint locally and opted for that instead of the correct silver mist.
I probably have 4-6 hours each rim, plus $188 to un-mount and re-mount the tires, $50 in paint and materials. $80 sandblasting. basically $320 in costs and my time.
Hope this helps.