there's a lot about the heated wheels here in older threads. I guess it was perry popular when they were still cheap to buy new. I think I saw they talked about popping up on ebay from time to time. they are kinda expensive
the ring on mine was coming off when I got it. I slowly worked it off while driving over a month or so. it's just glued on. a heat gun would probably help. but the better the glue is the harder it's going to be. Florida sun had weakened mine for me.
with the ring off, it looks nicer but there's a grooved indent for the ring to fit in. it got annoying so I ended up mixing up some epoxy and putting it back on.
if you were to wrap it with leather, I'd probably just do it over the ring so it doesn't feel weird in that dent.