This has worked out really well for us at several parties. We always made it for wardroom parties...then the wives could get stewed without having to be seen boozing it up in public.
First, you are going to need a BIG punchbowl.
Pour in a couple of bottles of cheap Champaigne. Don't waste your $$$ on the good stuff.
Add one big can of pineapple juice
Add one or two liters of clear soda...either 7-Up or ginger ale.
Add a bunch of pineapple chunks and strawberries. I recommend the frozen and drained strawberries.
Now for the good stuff!
Add a dash of rum to taste...about a quart say...
! Actually, my missus makes me use no more than a pint...but if nobody's looking!
The punch will be very tasty and the rum will be very hard to taste. Be careful though...the punch will have the kick of a mule.
Enjoy!