In 2004, I actually did that. I invited a bunch of my friends to my house for an election night party. We had pizza, snacks, soda etc. I only let them in if they had one of those "I voted" stickers on them.
Then we flipped channels between FOX, CNN and one of the local channels getting election returns all evening.
I didn't know at the time I invited people to the party that one of my friends was a closet Democrat. Let's say she wasn't too happy that GWB got re-elected but she couldn't really say so too loudly in a room full of conservatives, including her own hubby.
Good going! I think I will have one of those parties in 08. Maybe get them to bring some friends who voted Republican.