I have repaired severe cracks in a dozen steering wheels in the last 40 years.? Tried Bondo, JB Weld, marine epoxy materials and the BEST I have found is PC-7 by Protective Coating Co.? 221 S. Third St.? Allentown, PA? 18102? ? www.pcepoxy.com.?I  bought this at my local hardware store.  They have been around for 50 years.? Plan to spend a week, filling, filing, sanding, filling, filing, sanding and several lacquer thinner rub downs.  Finish with "old fashioned" primer and paints.?(not water base)? Buy a 2ft. long x  5/16in. thread  length of "all-thread" rod, double washer and nut it through the splined or keywayed hole in the steering wheel.  This works safely for rotating while painting and clamping in your vice for drying.   Good old "duck-tape" wraps on the thread rod will keep your hand from being "threaded" as you paint.

I just recently finished one.  I used 2 part epoxy to fill the crack (some as large as 1/4 inch).  Sanded it down, filled the couges with bondo and painted with Krylon.  The wheel was off a 52 Cranbrook and in bad condition.  I used small mechanical grinder and sander, they left gouges, because I was not real careful.  When done it looks quite good.  Not show car but good enough for a driver.

Ron

There is a good article in the book "CLASSIC CAR RESTORER'S HANDBOOK" by Jim Richardson that covers restoring steering wheels. Basically, he fills the cracks with "Bondo" then paints it.

I used a rattle can

we used single stage enamel with hardner

How did you paint the wheel after the JB Weld and did you clear coat the paint or wax it or ????

I usesd JB Weld in repairing the cracks on the steering wheel of my 1940 Plymouth.
I used a small three sided file to clean out the cracks, then followed the directions of the JB Weld, this is about five or six years ago now, still in good shape
Bob

I got the kit from Eastwood-2 part epoxy and book.  that was a couple of years ago.  I had a number of cracks in my wheel on the Ply pickup.  Turned out pretty well and wasn't that hard-just a lot of fiddling and sanding and spray paint. 
the epoxy mix is a slow set, and takes a while for it to harden.  I mounted the wheel on a dowel to spray it-took several coats to get it even all over. I'd give it a try

I need to restore the steering wheel on my 1949 Plymouth Special Deluxe.? ?I would like to do it myself but would consider sending it out to someone if the price was right (read not costing an arm and a leg).? ? Has anyone done this?? ?Has anyone collected information on doing this?? ?Who might I contact if I were to have someone do it for me?