tried and true method for storing parts, rust free

[ben1272]

I know I can buy VCI paper, or something similar.  But, can I spray paper towel with WD-40 and wrap my Pennsy A3 wheels in this while the sit waiting for use?  I have painted their faces red using high-temp auto caliper paint, and it has been curing for weeks now.  

Any suggestions for storing steel parts as they are made, rust free?

Thanks in advance!