I got it to work. If anyone else faces the problem of having to cope with IIS as a reverse proxy for RabbitMQ Web MQTT, do the following:
1. Get and install ARR (Application Request Routing) from Microsoft. It also installs URL Rewrite Module 2.0 if not already there
2. In ARR settings, check "Enable proxy"
3. Create an empty IIS site with binding to the desired port (e.g. 443)
4. Create a Rewrite Rule for the site that will point to the IP address/port where the web mqtt plugin listens
5. Now comes the tricky part: in that rewrite rule, change the value of SEC_WEBSOCKET_EXTENSIONS header which is placed by the browser WebSocket. With other WebSocket servers, it is suggested to set this value to "" (empty). With RabbitMQ web mqtt, this will not work. Instead, set the value to something meaningless for the web socket server, like "-"
I am also attaching an example of my web.config file that is created in the root directory of the site when the above rule is entered, copy that in the site root physical directory and you can skip steps 4. and 5.
After that, you can configure SSL on the site as per Microsoft's usual instructions so that IIS does the SSL offloading for the broker.