I just spray them with clear coat. Yes it’s paint, but it just looks shiny so it’s hard to tell. Plus if it chips, it’s hard for the eye to see. That’s my experience, YMMV.

I’ve been experimenting with different coatings and have had good luck with this, and it dries quick.

https://www.amazon.com/Krylon-K06903300-Protector-Preventative-Enamels/dp/B008BMP1J4/ref=asc_df_B008BMP1J4/

I used a kit from Caswell Plating to zinc plate a bunch of Harley parts that I'm using in a restoration. They call the kit "Copy Cad", because it's supposed to resemble cadmium plating. https://caswellplating.com/electroplating-anodizing.html
This would be great for pinball parts and is extremely long-lasting. Caswell has supplies for almost any kind of electroplating.
I re-plated all 80 spokes and 80 spoke nipples on my wheels using one of their kits. It's a bit time-consuming, but I enjoyed it and the parts still look great over 20 years later. I've been working on the bike on and off for 25 years. It might get done by this summer!

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Zinc plating is pretty reasonable I think, check with a local plater.

See https://www.maaca.org/viewtopic.php?t=19707

50 parts for $100

If you dont replate, Renaissance Wax is the Easiest and most widely used in Global museums to
prevent rust.
Absolutely amazing stuff, and Ive used it from Vinyl floors, pictures, Guns, slots, Pins, etc.

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Art I think I got the recommendation from you a few years back on the Everbrite:

https://shop.everbritecoatings.com/index.php?main_page=index&cPath=6&products_id=23&zenid=fc667344e4ce239b64f49b2da9dbc079

I used that with success on my Monte Carlo. I had this exact problem after I buffed the lockdown bar and cleaned it all up and got it all shiny. A few days later it was all rusty. I then redid it and coated with the Everbrite and it had held up since.

This post has pics of what all that looked like.

https://pinside.com/pinball/forum/topic/bally-monte-carlo-restoration#post-2777719

I have used Everbrite in the past and it really worked well. I don't know if there's different versions but the one I used was a spray can to apply and then bake in the oven to cure it. Not hard to use and looked great.

Cheap and easy... my method;
Soak all not rusted parts in simple green , toothbrush them clean.

Rusted parts
https://www.autozone.com/fuel-and-engine-cleaners-additives/carburetor-and-throttle-body-cleaner/p/berryman-chem-dip-carburetor-parts-cleaner-96oz/139313_0_0

Rinse after dipping overnight

Spray with clear spray paint once dried off

I use both. It depends on the piece, and how thick a coating needed or difficulty of piece.

More often now, the wax takes minutes and no mess. Museums use it on ancient weapons and armor.

I tested by leaving some legs that went through evaporust, and wax outside for 2 months. Not a spot of rust, except the threading.

I’ve used everbrite and like it. But it isn’t the answer to bright metal you’ve polished to a mirror finish. It’ll dull that mirror finish a little bit.

A quality metal polish with leave behind a protective film. I use Blue Magic polish, which says right on the label that it leaves behind a thin film of protective silicone. The good part for pinball is that the film is slippery. Great for balls, metal lane guides, metal ramps and anything else metal the ball touches. Game will play faster and parts are protected. Available at many auto parts stores.

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For long term protection a clear paint would be ok. But I’d look for something like the cold curing ceracote sprays for ease of application and better protection. Lots of guys seem to use ceracote for wheels or dirt bike motor cases where you need some wear resistance.

I've had good results with Rub'n Buff, on parts the ball doesn't touch.

I use it when I can't be bothered setting up my home nickel plating kit for small or one off items.

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I bring my stuff to a local rub n tug place, always a happy ending!

https://www.amazon.com/RPM-Rust-Prevention-Magic-oz/dp/B00ITVG8IK

This was developed by a guy who does 100 point Mopar restorations where coatings or paint/clear on bare steel will get you deductions, it is very well regarded in the restoration industry.

Not a good idea. Johnson's paste wax, as well as most every paste wax, is designed for finished surfaces. Not bare metal. Metal polish is available at most any auto parts store and isn't expensive. Get the right tool for the job.

I use it on my bare cast iron on all my woodworking tools. Everything in my garage rusts without paste wax in my garage