I'll tell you what Adam, this method would probably be far far easier and less messy overall than the plasti-dip method... consider it maybe?
jack the car up on each corner in the front, spin the wheel and use a small nail polish container of black touchup (any gloss black should do) after maybe a very very light sanding with some super high grit paper right on that stripe, then like a pin striper, hold the brush in that one spot and let the wheel spinning take care of the rest. Should do wonders and be spot on only on that stripe area to preserve the OE finish as much as possible.
For the rears, you would need to get the car in neutral and spin them, or jack up the entire rear end and put it in gear, then do the striping while the wheels are spinning...
with a car like this though, you'll probably be happy to have an entire other set of wheels, just in case stuff happens.
2003 BMW E39 M5 - Current!
2001 BMW 330i - Totaled at 236K :(
1996 Mitsubishi Galant S - gone at 121K
1993 Volvo 850 GLT - gone at 89K
1987 BMW 325 - gone at 238K
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