Your options:
1. Use spinners from GroovyGameGear or Ultimarc with the mini steering wheel attachments they offer.
Although I like the product for occasional use, I wouldn't go this route on a dedicated cabinet.
These devices weren't designed to take the abuse a steering wheel takes.
2. Use original arcade wheels and optical boards with an interface such as the Opti-Wiz (groovygamegear), Opti-Pac(Ultimarc), or U-HID (Ultimarc).
This is the route I would take.
The Opti-Wiz and Opti-Pac both show up in windows as a mouse. One device can be interfaced with two wheels (the x axis and y axis).
These devices also have an input for the Z axis (scroll wheel), but because of the way MAME handles the z-axis it cannot be used for a wheel or spinner.
Beware that there are a few oddball driving games that had the original optical sensors configured backwards compared to most ("active-high")
I know badlands and hotrod are among them. The Opti-Wiz will not work with these wheels. The Opti-Pac and U-HID can be configured via software to handle it.
The U-HID can be programmed to do anything, including handling the analog pedals. I'm unsure if it can handle more than two optical axis though.
(it would have to show up in windows as two mice to do this). I'd ask Andy at Ultimarc before purchasing.
3. DIY. You could build your own. You'd need the wheel attached to a shaft, secured in a bearing. On the end of that, you'd need an old hacked optical mouse
or the wheel and boards from an old arcade driving or trackball setup. Given you'd need to use the wheel and encoder board from an original machine anyway,
I'd just go with option #2.
It is possible to use 3 spinners simultaneously in MAME. Multi-Mouse must be enabled in mame.ini
This will make MAME view each mouse separately (mouse 1 x, mouse 1 y, mouse 2 x, mouse 2 y) instead of getting input from the windows system mouse (where they all work the same pointer).
I would also encourage you to use analog pedals. You'd need an A-Pac, U-HID, or hacked gamepad to interface those. I've also read that there is an analog firmware available for the KADE device, but I'm not sure of the details. In games like Pole Position it's important to have analog pedals, otherwise the car squeals the tires and loses time every time you take off.
In games like Super Sprint and Ivan Stewart's offroad, I just mash the pedal anyway.