I think it would be very popular. I think you might need to schedule some break time; since parties nominally run six hours, there's room for at least ten minutes quiet in there. The 60-second mic handover is optimistic, unless you have MCs (plural so they can take a rest, too), who will grab the mic, intro the next teller from the 3x5 card they filled out, and then pass the mic to them. Running Autism Timer on an iPad would be helpful.

I've been peripherally involved in the planning & hosting of two WisCon parties. In terms of arranging for drinx & snax, simplify things by conspiring with a Madisonian. We have many grocery stores which cater/deliver as well as restaurants nearby. #1 organizer has to be there at 9pm to orchestrate setup. Handy to have three toting & lifting people to set up buffets and chairs, plus one more for decoration/themes. Plus the MCs, and finally, someone else has to lovingly kick people out at 3am.

The ambient noise level on the WisCon party floors is high, so the mic is crucial. Generally I'd say "go wireless" but I'm concerned a well-lit partygoer would walk away with it. Some parties have moved to 1st floor because of fewer suites on sixth; they would be slightly quieter because fewer parties but louder because bigger rooms. Contact the party chair early with your requirements.

Making Light has a very helpful thread on how to host a party at a con. You do not have to serve alcohol at a party, although many people seem to think so. Not serving booze saves money, although beer can be cheaper than soda.

Two WisCon rules: don't serve alcohol to minors and welcome everyone.

I'm not immediately volunteering because I haven't decided if I'm going this year.