Welcome Vader, I recognize your car from Instagram and the rare colour.
IMO an E36 is fine for kids. I haul my Daughter around in my E36 B3 - she loves it! But an E38 B12 would be an awesome ride.
As for putting Alpina stripes on a non-Alpina, that's a big no from me. Save your money and put it towards your future Alpina purchase instead.