HI, you should strip the paint first of course.
I did a makeover on my Epiphone a little while back... lets just say it didnt look as good as the factory finish, lol... but thats because I was a goose and didnt do things with the patience they required...
there is a page with some cool tutorials and ideas for you.
http://www.projectguitar.com/
Good Luck.
ps.: and do add patience to the list, I didnt... lol