I don't believe that this has happend to anyone, but, if the peeling progresses to the bead, it could cause a leak. The peeling is also a hazard, as the chips are sharp and will cut your hand when you're cleaning the wheels.
Chrome is tough, it has to be chemically removed, and can't be sandblasted away.
I'll be researching the chrome removal this summer -I use my 18s for winter, and the chrome is peeling off of all of them.