I am pretty familiar with this subject as I wrapped my black diamond several months ago. I did a thread on the project. Also including a few pics. To do this wrap correctly is not only time intensive but can also takes a lot of energy and $$. I have a bit of an advantage...my son owns a wrap shop so I was able to get a lil discount on install, along with making sure the wrap was done correctly in all aspects. Keep in mind a successful wrap is dependent upon the quality of prep.
We removed ANYTHING & EVERYTHING that was attached to the body...fender flares, handles, mirrors, molding, bumpers, badges, etc. Anything that didn't get wrapped was removed, including all glass & weatherstripping. You can wrap around/over molding, lights, etc., however to get the best installation possible removing and wrapping around body edges instead of cutting in is preferred. The body had a few ding's that had to be filled, otherwise it was a matter of using a de-greaser and vinyl prep cleaner before wrap. ALL imperfections should be taken care of before wrap. Small paint chips will be visible after vinyl install. For the vinyl we used 3M 1080 cast, solid color satin white and satin black, along with OEM Toyota TRD red. The red and black graphics along the side are put on AFTER the solid color, not printed. You have much more control of location doing it this way. Not only did we wrap all panels we decided to raptor line roof, side mirrors and hood insert, grill housing along with a few other pieces, including subwoofer box, etc. After 18 months the DIY raptor liner is holding up perfectly and has not chipped or faded. Once again, it was all about the prep. The pieces were de-greased, sanded as per raptor liner instructions, cleaned with denatured alcohol, then shot with adhesion promoter before the liner was applied. When it was time for re-assembly we opted to replace most of the molding along with new door handles, windshield, etc. We also installed new grill insert and added some red accent HID lights, etc. The original roof rack was a bit weathered but after treating it with "BIKE BRITE MOTO BLACK", it came back to life. The bumpers and rear jerry can/rack assembly was re-powder coated along with the wheels.
As you can see by pics the result was a stunning, aggressive look for an otherwise tired FJ.
The overall investment in the FJ was approx. $2,800, not including many, many hours of disassembly/reassembly. I would not recommend cutting corners. Also make sure your wrap shop uses a QUALITY vinyl and laminate if the vinyl has printed graphics. Vinyl is obviously not as durable as paint, however it can be repaired easier. It does take a bit more care than paint, especially if using a flat or satin vinyl. I use 3M red car wash soap. I am also a bit adverse to the additional vinyl protectants, sealants on the market. After using one product it left streaks and high/low spots on the satin black hood. Fortunately I was able to remove it by washing it off a couple of times but with flat and/or satin vinyl adding sealants can cause inconsistencies. Better to keep it covered or garaged and clean regularly.
If you have any questions on specific issues on the wrap I would be more than happy to try and answer.