for the undertray it may be possible to make the bottom of the car as flat as possible so i'd look at something starting at the level of the bottom of the front valence and extending back.
Sounds like a nice manual setup you have there!
have you done any mods to the engine? Be careful blocking the grill as the ir intake is behind the lhs light, and the stock fan sucks air through the rad-block the grill and you'd reduce that.
Have a look at the alpina 'cow catcher' front lip for the basic idea of an air dam for an e30
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