Formal:
* Bonne nuit et je vous aime (This is the most formal way to say it, suitable for someone you respect greatly.)
Informal:
* Bonne nuit et je t'aime (This is a more casual and affectionate way to say it, suitable for close friends, family members, or a significant other.)
* Dors bien et je t'aime (This means "Sleep well and I love you.")
* Bonne nuit mon amour / ma chérie / mon chéri (This means "Good night my love" and is very affectionate.)
You can also combine these phrases:
* Bonne nuit, je t'aime beaucoup (Good night, I love you very much)
* Dors bien mon amour, je t'aime (Sleep well my love, I love you)
The best way to choose the right phrase depends on the person you are talking to and the context of the conversation.