An iron-containing heat-resistant aluminum-based alloy product consisting essentially of, in weight percent: up to 0.15% chromium, 0.80-1.20% copper, 0.80-1.20% iron, 2.20-2.80% magnesium, up to 0.10% manganese, 0.80-1.20% nickel, up to 0.15% silicon, up to 0.15% titanium, 5.50-7.00% zinc, up to 0.25% zirconium, and up to 0.25% scandium, with the balance being aluminum. Also, a manganese-containing heat-resistant aluminum-based alloy product consisting essentially of, in weight percent: up to 0.25% chromium, 0.80-1.20% copper, up to 0.30% iron, 2.30-2.90% magnesium, 2.70-3.10% manganese, 2.85-3.25% nickel, up to 0.15% silicon, up to 0.15% titanium, 6.10-7.10% zinc, up to 0.25% zirconium, and up to 0.25% scandium, with the balance being aluminum. A spray-formed billet of the alloy is prepared by: charging aluminum and the other elements that are to make up the alloy into a crucible; melting the elements in the crucible to form the alloy; pouring the melted alloy through an atomizer to atomize the alloy in a spray chamber; and depositing the atomized alloy onto a collector disc at the bottom of the spray chamber to form the desired spray-formed billet. The billet can then be forged into a shaped product, such as an aircraft inboard main wheel half.