A vehicle wheel, or other axisymmetric shaped article, is formed of an aluminum-based alloy by a combination of a liquid forging step of a pre-form shape of the wheel and a subsequent solid-state flow forming step to complete the specified shape of the wheel. An aluminum-based alloy, containing specified amounts of zinc, silicon, and magnesium is devised for use in the forming process. The composition of the aluminum-based alloy is devised to facilitate the performance of each forming step of the article and the mechanical properties of the final shaped product.