when you remove the fabric you will have glue etc that will still be stuck to it...clean it off as best possible then you can go through and use your adhesive 3M 74 I think it is and apply the vinyl...
if you did want to paint that piec being that its plastice I would say use like resin or fiberglass to cover it then paint it so it would look ok and come out w/ a nice smooth finish..
Hope this might help a bit....
