I have polished lips on my hamann pg2 and it have a lot of oxidation on it. What can I do to remove it?

If the lips are non-clearcoated, I'd recommend a high quality metal polish such as Meguiars NXT Generation All Metal Polysh. Make sure to apply it with a foam applicator and rub away!

http://www.meguiars.com/?wheel-care/NXT-Generation-All-Metal-Polysh

Thanks! Where can I find a foam application.

There's lots of metal polish products to use on non-CC wheel lips- some of the others that come to mind are Mother's mag/alum polish, Wicked Products' Lightning Shine, Eagle One Never Dull (wadding type, not liquid or cream), Autosol...