Well, I may catch flak for this but it sounds to me like you just wanna clean the boxes up so they work well and look nice for your husband. Besides, I'm sure his main box is gonna be the Husky. Contrary to some of the responses given, I don't believe any sandblasting/grinding/welding is going to be required!
So, in answer to your question on the basics of cleaning up an old box, I'd say;
Go ahead and remove the 2 drawers. It looks like a Kennedy, Craftsman or an off brand box. Therefore, I'll bet the slides are the type in my pic. See the little red tab in the oval? That tab catches on the triangular indentation in front of it. That allows the drawer to open but not fall out. Use a flat blade screwdriver and push that red tab in. That will allow it to slide past the indentation. Do that to both sides and the drawer should slide all the way out.
Once the drawers are out, grab a bottle of Simple Green, a bunch of rags and start scrubbing and scouring inside, outside and every nook and cranny until it's squeaky clean. If it really needs paint, go get a couple of red Scotchbrite pads and scuff all painted surfaces. Get into every corner 'cause if you don't, the paint won't stick. Dampen a rag with the Simple Green (boy, I'm gonna hear about this) and wipe the surfaces down. Now carefully mask off anything you don't want painted.....latches/handles/lock/etc. Get a couple of cans of your Rustoleum (I prefer Krylon), shake them well and paint away.
If the chrome has any rust, a quick hit with some fine steel wool should do the trick. Find some drawer liner material, cut to fit and install it in the drawers. Add a bit of lube to the slides, reinstall the drawers and you're golden!
Now, stand back and admire your work!
I'm sure your husband will be blown away!!