For painting soft vinyl, you should look to Duplicolor, and for the passenger side airbag, where it is a hard vinyl, use Krylon. Both of these are vinyl DYES, and that's what you should be using.
I too was thinking about doing the "Mustang" on the pass. side, but I've no way to perfectly seal off the lettering just by using masking tape. I tried a small inconspicuous spot on some hard plastic by using some caulk to see if that would work, but all it does is peel the factory color right off the vinyl.
Read the tech section's "Painitng Your Interior," and then I would think about maybe experimenting with a few different techniques that don't require spray cans.
See if you can find a vinyl dye that is in can medium and not a spray can. Hope you have a steady hand. If not, ask a sign painter, or a real pinstriping guy (painter) to do it after you get the vinyl dye.