Farm them for horns (removing the horn is painless [0], once the horn is removed release into the wild), tax the production of horns, use the tax money to find conservation and security.
The increased supply will decrease prices, making the hunting of rhino less profitable.
The argument against this is that increased supply will increase demand. Also, its not hard to see corruption eating away the profits, and therefore investment into conservation.
[0] http://www.news24.com/Africa/Zimbabwe/does-it-hurt-a-rhino-w...