You're not too old. You're never really "too old". You get "too unattractive".
It all comes down to whether or not you look like someone women/men want in their fantasies. If you're 60 and you look like you're still at your physical peak, then you can strip at 60. The problem is the older you are, the harder it is to have that kind of effect on women/men. It's harder as you get older to keep yourself in that kind of shape physically. Not only that, but your age really starts to show in terms of skin quality and wrinkles. When your age starts catching up to you in which people stop lusting after you, then you're too old. But you can be 28 and look like you're 45 and guess what? You're too "old" even though you're only 28.
And as other people pointed out, you have 2 things going against you.
1) Your weight. Realistically you're not "out of shape". You're fat. A male stripper should probably be under 18% body fat. And that's if they're extremely muscular. If you're just moderately muscular, you'll need to be around 15% and below. So for you, you'll probably need to drop to 160-170 with under 15% body fat.
2) Your height. You're short. Not overly short but you're short. You'll notice A LOT of women in personals will request men at LEAST 5'10". A lot will say ideally over 6 feet.
The bottom line is this. Strippers are desired because they're an ideal approximation of what women/men want their men to look like. That USUALLY means tall, muscular, healthy, and lean. At this moment you're none of those things. Age is the least of your worries.
I hope you realize how difficult it is going to be. You'll probably spend many miserable months dieting and exercising. If you manage to keep it up, then you'll have to worry about the extra skin on your body from being overweight (if it's extreme then you need surgery). Then you'll need to try to get a job which will be hard if you're short.