Technically, a surviving Diana wouldn't be the Princess of Wales anymore. Here title would be quite confusing as her husband, the Prince of Wales didn't become King and therefore she was never a Queen or Princess Consort. I suppose she might get the title HRH, Diana, the King Mother, but I don't know if there's a precedent for that.
So...onto the naming of your composite regiment:
Bovington Brigade/Battalion/Regiment
Princess of Wales', the King Mother, Own (I love this one because I bet the rest of the army would call them the 'king mothers...)
Or, as stated, the Dorset or Wessex Yeomanry which already exist as TA companies.
But my vote is for the 'king mothers...
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