Should I go through w/ this, and what should I wear?

Buy a nice outfit that is wash and wear, silly, and some good looking cheap shoes and tights you can throw away. You can probably find some nice shoes at the good will, and maybe even a nice outfit there if you look hard. You can even get a prom dress and fancy evening dress there that it won't kill you to throw away after the event. Its for a good cause, give them their money's worth! Good for you for getting involved!