What to wear on New Year's Eve (and not feel like a stress case)

Let's face it, getting dressed for New Year's Eve is stressful. I've had years where, after trying on anything at all fancy in my closet and finding it all awful, I've flung myself on the bed and wanted (dramatically) to just stay home. But that was years ago, when I was not only more self-loathing, but also before I'd figured out a plan. December 31st is a night where everyone puts on a kind of dressy costume, and in order to avoid  last minute panic, I think it's best to prepare this ensemble far in advance. Take a look at my suggestions above, I'd also love to find sought-after items and answer questions below. What are you wearing on New Year's Eve?