Wow you guys weren't kidding! Having never taken the glove box out nor routing any cables through the firewall, I completed this mod in less than 20 minutes! Piece of cake. Thanks for the info everyone.
For anyone else that comes across this thread here's what I used:
http://www.bimmerforums.co.uk/forum/f3/how-to-remove-your-e46-glove-box-t20588/ This thread shows how to remove the glove box in the simplest manner. Several other threads I came across added unneeded steps.
A wire coat hanger that I took apart and turned into a a straight, stiff piece of wire
Wire strippers
Electric tape
Philips head screw driver
That's it. Pull the glove box off. In the e46 on the passenger side of the engine bay up next to the firewall there is a large hollow bay. In the bay there is two rubber ports, one on the left already has a large bundle of cables going through, the one on the right has no cables but 3 round "condom" looking things for lack of a better term. Attach your cable to your wire hanger using electric tape. Cut the tip of one of those "condom" looking things and push your wire hanger through. Go inside and look under the passenger foot well and you should see the wire hanger, pull it through. Pull your footwell light off, strip the positive wire, and attach.
Thanks again everyone, really appreciate the advice. Looks clean and love the angel eyes fading in and out!