Chromed "aluminum" wheels? If so then there isn't a lot you can do. The bubbling started probably due to a stone chip. Moisture gets under the chrome and corrodes the aluminum and once it's started it can't be stopped. You can slow it down by carefully cleaning the affected area with some skotchbrite, polishing the aluminum and then putting on a clear sealer like nail polish. This won't last long though.
The other factor you have against you is the two materials have dissimilar expansion rates. The aluminum wheel expands more then the "chrome plating" does and this weakens the bond between them and also causes the oxidation/peeling process to start.
I never buy chromed aluminum wheels. Polished is the way to go. Sure it's more upkeep but the "look" never goes away unless I get lazy...