Soak it a couple weeks in 80-90 wt gear oil and hit it with a brass brush, you'll be amazed what crude comes off. I rescued a stiff chain frozen with rust and have put at least 500 miles on it on my Pierce. The the gear oil stays in the rollers and can get all over everything. After 5 years I just took it off in July and soaked in a plastic container of simple green for a few hours, giving it a shake now and then. It has picked up lots sand and grit around here. After rinsing and drying it was still pretty oily in the rollers. I hit it with triflo for extra insurance. Wiped it down well and reinstalled.
I think there is a thread here about using gear oil, if you want to clean it after the gear oil you can always use something like naphtha or another solvent. Gear oil, smells horrible but seems to do the trick. Good luck.