Help! Faux leather deteriorating

My nine year old son just purchased a vintage (1996) GI Joe which includes a faux leather bomber jacket. The fabric of this jacket has become sticky and is deteriorating. It is shiny black polyester (?) on the inside of the fabric, with a brown vinyl-ish coating to look like brown leather on the outside. Any help you could give us will be appreciated! Is there anything we can put on the fabric to halt the deterioration? Thank you in advance!
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characteristics of faux leather
I guess the quality of it is a sort of coating over fabric? Is it possible to paint the entire jacket with the corresponding colors? I dont know anything about fabric paints, such as to decorate T shirts but some acrylic paints might help. I know even real leather deteriorates that way. I just threw out a leather jacket because the glossy color over the suede has just become so brittle I couldn't recover it by moisturzing it.
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