Novel Story Dialogue Question

In regards to dialogue again, I just have a question about writing regular story dialogue. I know the basics. For example:

"We should totally go out on a date to the movies," John said to Alisa. "It would be awesome!"

"Oh, John!" Alisa replied. "That would be so romantic!"

Now, are you allowed to put a giant paragraph with several sentences of dialogue in quotation marks? For example, here is the dialogue.

John: Alisa, I think we should totally go on a date to the movies. It would be fun, and we would be able to get to spend some time together. Of course, I'll let you pick the movie! After the movie, we can go hangout by the river and talk underneath the moonlight. What do you say? You up for a date?!

"Alisa, I think we should totally go on a date to the movies. It would be fun, and we would be able to get to spend some time together," John said. "Of course, I'll let you pick the movie! After the movie, we can go hangout by the river and talk underneath the moonlight. What do you say? You up for a date?!"

Alisa: Oh, John! I was wondering when you were going to ask me out on a date to the movies. We've known each other for five years, and I've been waiting for this moment forever! I get to pick the movie?! Well, how about a romantic movie?! I love romantic movies. Also, I would love to spend some time with you by the river. We got a date, John!

"Oh, John! I was wondering when you were going to ask me out on a date to the movies. We've known each other for five years, and I've been waiting for this moment forever!" Alisa replied. "I get to pick the movie?! Well, how about a romantic movie?! I love romantic movies. Also, I would love to spend some time with you by the river. We got a date, John!"

So, is it proper to add all that dialogue like that?