I saw a paint stripe thingy which was a feed bottle that had a wiper and a metal wheel that you used to pen stripe. It rolled along the surface and you tipped it up a bit to make the lines wider or thiner. Almost bought one at the state fair. Anyone heard of or used one of those?
As far as bike projects went, I just used pen stripe tape and trimmed it accordingly. When I did 2 color paint jobs and the seal on paint grip weren't so great, the pen stripe tape went on and a top coat of clear, and then it looked very good. You can use a heat gun to help it bend around and not wrinkle.