1. Keep foundation sheer and light, and use it only where you need coverage. Anything too heavy will settle into lines as the night goes on (and is more likely to end up transferred onto fellow revelers' cheeks and suit jackets if you're the kissing-and-hugging type).
2. Apply makeup in thin layers, whether it's concealer, eyeshadow, or lipstick. Two or three light coats are more likely to stay put than a single thick one. Tap or press (rather than brush or swipe) the product onto your skin, and you'll be less apt to overdo it.
3. Tread carefull with powders. On your lids, a powder shadow is preferable to a cream—it's less prone to creasing or fading. On your face, though, powder can look heavy after a couple of hours and often accentuates wrinkles. If you get super shiny, dust a translucent loose powder over your T-zone; otherwise skip it completely and mitigate shine with blotting tissues (they won't disturb your makeup).