Not a music video, but one of my favorite M3 references in hip hop lyrics besides Biggie's Cherry M3 reference is from Nas: "No work release purple M3's and jet skis" 2:01
Given the time period of this song, that 'purple M3' is most certainly a Daytona Violet or Techno Violet E36 M3
There's an E92 M3 in beginning of the music video for Tyga - Switch Lanes
Not an M but deserves an honorable mention: E's 850i (@0:49)