Definitely not. Such content involves vulgar and inappropriate sexual implications. Society generally promotes clean and positive cultural products, and this kind of story goes against such values.
Another alternative could be girls' first encounter with a new culture when they travel or study abroad. These are much more positive and inspiring topics.
As far as I know, there may not be a 'Never Ending Story 3' officially released. But the film industry is always evolving, and new projects can come up unexpectedly.
It could refer to a very long and perhaps convoluted narrative that seems to go on without end, like an epic saga with countless sub - plots and characters.
As of now, I'm not sure if they are remaking 'The Never Ending Story'. There hasn't been a lot of buzz in the mainstream media about it recently. But in the world of Hollywood, anything is possible. They might be planning it in secret or it could be in the very early stages of development that we don't know about yet.