Too answer your question...
There is no printer durable or able to print directly on to retro reflective in that price range. You can print on a clear and apply that to your sign face "BUT" you will not be MUTCD compliant as the color has to be reflective too, the print will be too opaque
The printer that is recommended (Durst Rho 161TS) is somewhere in the 125-150k+range.
I recommend a vinyl cutter and cut the traffic film and apply it over the reflective/blank
I suggest a T-Series Summa. (around 6-10k)
Then there is the software... One of them is "trafficad" and that will set you back 5,000 bucks with all the artwork, design and cutting software...
http://www.trafficad.com/trafficad_upgrades.html That might be too much software for what you need.
I have designed MUTCD signs in Illustrator (50 bucks a month), then send the layout to Flexi-Sign (2,000 bucks) (you can even use Flexi-Starter or a bridge program for the basic signs you are doing-some vendors throw in the software for free or a few hundred bucks)
Good Luck!