Probably not. Aluminum wheels have a thicker mounting flange. BT and learned it the hard way. This epic story is told from beginning to end, so new owners can know how bad it can get when things collide between 2 nice to have changes to the 1st Gen Camaro.
I had seen that my wheel stud threads were barely visible before I took the 68 Camaro to Goodyear. The car has American Racing Torque Thrust on it when I bought it. I did not like the tires nor the wheels either, but no cash to get ones I wanted. Tires were 8 years old, so no question. Get them off. During the time the tires were being changed at Goodyear, the technician and service rep were pushing me to change the studs out. This was an unsafe condition. I said no that I would wait until I put on the 4 wheel power disc brakes. They tried to convince me all the way to me paying the tire bill. I asked them if the lug nuts were torqued. They said yes and I said it was good enough for the next few hundred miles I might put on the car. I would keep watch of the lug nuts. I knew that stud length situation would change again for the worse, once brake disc rotors were mounted. I was right as in 2 months later I found myself installing the front disc kit and determining the studs were useless anymore.
So, I wound up measuring the axle flange thickness, the rotor thickness and the American Racing wheel mounting flange thickness. I then determined the thread engagement length of the factory nut that was was currently being used with the wheel model (conical seat and vendor acceptable). Knowing the wheel was sloppy on the studs, I did a test with 7/16-20 nut and stud on the wheel. This confirmed the stud was sloppy in the wheel and the conical seat was seating too far into the mount hole Flats were contacting the mount hole. I then did the same test with a 1/2-20 and found it acceptable. I found a set of 1/2-20 closed top wheel nuts to use and bought them. Then I measured the depth of the threads from the conical seat upper face. Knowing this closed wheel nut stud limit dimension gave me everything I needed to plot out the needed stud length with same knurl dimension of the original stud (0.472). Unfortunately, I ran into the problem that there was no 1/2-20 with the same knurl size as that was on the 7/16-20 stud. Best I could get for the length I needed was a 0.56 knurl. So a 0.088' larger knurl needed to be accomodated. This required buying a reamer 0.006" smaller than the knurl size and a drill bit slightly smaller than the reamer. The front hubs, I did all the work on the drill press. The rear axles, I did free hand with a friend watching very closely that I stayed level while drilling with the larger bit and oil and then doing the final ream. The end result is I have 1/2-20 x 1.75 studs (Dorman 610-074) installed that work fine with my axles, brake rotors, wheels and wheel nuts.
Oh yes, I changed the color of the wheels to my liking and polished the aluminum. They set off the blue on the car real nice.
One little change like wheels or disc brakes doesn't seem like much, but some owners don't take the time to ensure all interfacing requirements are correct. They leave it to the next unsuspecting new owners of the car to learn of the cheap way the previous owners did auto maintenance. BT and learned that on my Camaro and one of my Corvairs.
