Thanks for all the help guys! I talked to my best friend Diane yesterday on the phone, and slept on it last night and have decided to do the chair rail around the top of the stripes! I'm going to also do crown moulding, so I think this will definitely look the best and be the most versatile option.
I can decorate with a ton of pink elsewhere if I so choose, but I don't think I want to be locked into pink with a border. It's too limiting, I think, even though it is absolutely adorable.
Still going to go ahead with the pink bedding.
Ready to get my laser level and start taping the stripes off! I'm going to stop at Home Depot on the way home and get the white paint. Can't wait! So glad I made up my mind - and so glad you guys helped me out!