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Normally a shop would use a vertical mill with an endmill bit to resurface a head. They run the bit back and forth across the head until it's level. It's crucial to ensure the head is properly leveled prior to starting the milling, to ensure the head is milled evenly.
With a wheel, I'm sure the preferred method would be to install the wheel on a lathe, then move in with a cutting bit at the center of the wheel, then bring the bit outward to remove the necessary amount of material. This would probably be done in several small cuts.
They're two completely different processes, but any machine shop (automotive o otherwise) with a large lathe can do the job.
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