Ladies, if you want to attend P. Diddy's party tonight, make sure to wax your bikini line and get a pedicure.

Gentlemen, don't forget to shave -- and wear Dolce & Gabbana. 

And definitely don't bring your aunt from out of town -- she'll be left outside. 

Only P. Diddy would have the guts to bill his post-MTV Video Music Awards bash tonight as "The Greatest Party of All Time." 

Say what you want about the flashy impresario, his music or his Sean John clothes -- only he could pull it off, according to New York's nightlife denizens. 

"Two things he does really well are throwing parties and fashions shows," says Emil Wilbekin, editor-in-chief of Vibe magazine. 

"He throws amazing parties and everyone wants to go to them. 

"Right now he's trying to reposition himself back into music. So throwing a party after the MTV awards makes him a force in the scene again and brings attention to him in positive way." 

P. Diddy is co-hosting the party, at the landmark Cipriani restaurant, with music producer Guy Oseary. 

New York's nightlife crowd is tittering over the super-strict dress code, which urges guests to wear their "flyest [expletive] -- or have your stylist pull something for you." 

Not to mention the eight-page, ultra-suede covered "photo album" that went out to 1,500 very select people, inviting them to be "a part of history." 

From St. Tropez to East Hampton -- to the dismay of his neighbors -- P. Diddy does seem to have a knack for luring big names to his Cristal-soaked baccanals, say guests. 

"You're guaranteed a good time at a Puffy party," says Ben Widdicombe, co-columnist of the gossipy "Chic Happens," on Hintmag.com, who attended a post-fashion show bash. 

"There were tables and tables of food, bottles of champagne. Everyone was there. There were pretty women dancing on the windowsills. It was a huge scene and lots of fun.'' 

Party planners are being tight-lipped about tonight's details -- and the cost. 

But the hosts are making sure nobody goes home empty-handed. 

Some of the biggest stars from tonight's show are expected to turn up, if only to snag $25,000 gift baskets -- including Infinity stereo speakers. Some will get free limo service and designer clothes. 

Don't be surprised to see Justin Timberlake, Mike Myers, Britney Spears, Nelly, Ashanti and the Osbourne family in the crowd -- or even Madonna, who's rumored to make a surprise appearance at tonight's awards show.

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