There is a brief article on steering wheel resto in the latest annual edition of Chevelle magazine, which is the one time per year that Primedia publishes this exclusive mag on Chevelles only. On shelves now, got mine yesterday.
It follows other articles I have read. The process can be done yourself perhaps. Basically you use 2 part epoxy to fill your cracks. It can be tinted with model car paints to the similar color. POR makes a steering wheel resto kit also. I believe after you fix the cracks you can sand it, prime it, and paint it as needed. Any body shop could paint it for you once you have fixed the cracks and sanded it smooth to your satisfaction. I haven't done it myself, buy there are magazine articles on how to, if you are inclined to fix it yourself.