If I am referring to stripes then it would be striping. Example: I am striping this object with paint.

Stripping with two p's refers to an act of removing one's clothes. Example: I am stripping off my work clothes to change into my pajamas.

astherosphere

These "stripes" formed the pattern known as magnetic striping. ... They hypothesized that the magnetic striping was produced from the generation of magma at mid-ocean ridges during alternating periods of normal and reversed magnetism by the magnetic reversals of the Earth's magnetic field.

Careful how you read that...
Candy stripers are hospital volunteers who work without pay (other than possibly free meals)
Asphalt stripers earn something in the range of $10-$15/hr in most areas - but it depends a lot on what they are striping, where they are striping and the equipment they have to operate to do the striping.