I agree with Paul, and that's basically how I did it on the model shown. Like you, I dislike using long, stripe decals, and even when they don't break up, they can be tricky to lay down in a straight line.
If you feel up to it, then have a go at the masking and painting - thin the black paint a touch to ease application and prevent, or at least reduce, the chances of a 'ridge' on the stripe edges. It's good experience and, given it works first time (and there's no reason why it shouldn't) then you'll get real satisfaction from knowing that you have done that, plus adding to skills and experience.
That Bf109 kit is not particularly accurate, but that doesn't really matter. Just bear in mind it's a 'late war' variant, so, as Paul mentioned, a bit of research should provide a host of colour schemes, some of which, depending on period and location, will at least have a yellow lower nose panel.
Revell's new Bf109G-6 is due for release in December, at a very reasonable price, and should be excellent - so even more to go at!
Hope this helps.