Refinishing 86 swingarm

Oven cleaner is basically a mix of sodium hydroxide and alcohol. Very close are the sodium hydroxide paint strippers and drain cleaners. For a DIY demo, cut the top off an aluminum pop can and give it a shot of oven cleaner. If you're feeling frisky, you can light it off since the reaction also produces hydrogen gas.

There are sandable filler primers for aluminum that will with a couple of coats sanded back fill those pits. Topped with a couple of coats of an automotive grade paint might be a good fix. Short of that one or more of the Bondo products will fill those pits.