Use the polar form of complex numbers to show that every complex number $z\neq0$ has multiplicative inverse $z^{-1}$.
If $z=a+bi$, then the polar form is $z=r(cos(\alpha))+i(sin(\alpha))$.
I can do it, not using polar coordinates: Let $z=a+ib$.
Since $1+0i$ is the multiplicative identity, if $x+iy$ is the multiplicative inverse of $z=a+ib$, then $(a+ib)(x+iy)=1+i0$ $\Rightarrow$ $(ax-by)+i(ay+bx)=1+i0$ $\Rightarrow$ $ax-by=1bx+ay=0$ $\Rightarrow$ $x=\frac{a}{a^2+b^2}$, $y=\frac{-b}{a^2+b^2}$, if $a^2+b^2\neq0$.
The multiplicative inverse of $a+ib$ is therefore $\frac{a}{a^2+b^2} +i\frac{-b}{a^2+b^2}$.
Now, should I use this same process and just replace $z=a+ib$ with $z=r(cos(\alpha))+i(sin(\alpha))$?? Or is there another way to go about this process?

Yes, you can directly check that inverse of $r(\cos \alpha +i\sin \alpha)$ is $\frac{1}{r}(\cos \alpha - i \sin \alpha)$ (try to multiply them and use $\sin^2 \alpha+\cos^2 \alpha=1$).