Getting straight to the point, I want to build a Modern Age team including Akuma (Street Fighter). If possible I want to make a competitive team of 300/400/500 and I currently don't have or know what kind of playing style i should do with Akuma. All i know is that i want to kick butt with street fighters if possible. Here's a list of figs that i got as a newb so far:

Street Fighter
Akuma 022 (street fighter)
Ryu 002
Ryu 101
Ken 106
Dhalsim 004
Dhalsim 103
Guile 105
Chun-Li 104
Sagat 015
Cammy 009
Zangief 005b

Incredible Hulk
IceHulk 048
Mighty Thorr 050
Ghost Rider 037
Cosmic Hulk 035

Chaos Wars
Hawkeye and Mockingbird
x2 The Unspoken 046
Crystal 044
Chaos King 051
Kang 050
Donald Blake 010

Limited Editions/Others
Invisible Woman LE 102
Iron Man 205 (Avenger's movie)
Batman LE 100
Infinity Gauntlet LE w/ all 6 stones

And more figs mostly from Chaos Wars and Incredible Hulk.

So how should i build this? (if i need figs, i can try to get them)

Akuma is fairly pricey. You'll need some cheaper figures to take the heat off him. I'd try playing him with Cammy and starter Chun-Li in a 300 point game - Cammy can act as a meat shield while Chun-Li goes into close combat.
In general you want some cheaper figures to round out the team, so it is tricky to do something worthwhile with the figures you listed.

If you don't care about theme bonuses you could always try to pair Akuma with the 100 point Dhalsim and Donald Blake. Donald is a bit of a waste if you don't have a Thor to AE into.

I do have Thor from chaos wars to AE, but if i did have a team of akuma, dhalsim, and donald blake would bring it up to 303pts. I don't think i would be able to play 3pts over 300 right?

No, that was me who had a brain fart - for some reason I want to make Akuma 160 points.