Formal:
* "Faites de beaux rêves et bonne nuit." (This is the most literal translation and the most formal way to say it.)
Informal:
* "Fais de beaux rêves et bonne nuit." (This is a more informal version using the singular "Fais" instead of "Faites".)
* "Dors bien et bonne nuit." (This literally translates to "Sleep well and good night." It's a more casual and common way to say it.)
You can also just say "Bonne nuit" (good night) and it's perfectly understood.