Hi Greg,
I'm not going to be able to offer any first hand advice, but I'll throw out a couple of ideas.
Vallejo has a paint line which they say is suitable for slot cars in their Premium RC Color range, which sounds like some pretty tough paint. Some nice shades of red too.
As for the stripes, if I were using lacquers I wouldn't worry too much about a ridge, I'd paint the stripes silver first and then white. With other paints I'd try to make my own with a white decal sheet.
Hopefully others have some better suggestions.