The harder part isn't actually "doing" this...its more finding the correct materials. The JDM Recaro's are wrapped with red Alcantara. It is a version of suede, very expensive and fairly hard to find. If you're trying to get a perfect match, I wouldn't use a different material as it wont look anything like the original.
Also, if you have no experience with a sewing machine and any background in upholstery, I would take it to a professional to be done.