Help in repairing some bikes?

Well recently I bought one red Schwinn (Sprint maybe?), one green Schwinn Varsity and one blue Raleigh bike, all for $120.
Yup, they're all genuine.
Anyway, all three of these bikes need repairs, so I was wondering what could probably get rust off of the rims and handlebars?
Also, the Raleigh's chain is too long. Anything I can do to make it fit right?
 
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