Hi Sharkie1400! I super <3 LOVE your idea and the colors are fantastic!
I'm not sure how tight your budget is, but some clubs actually allow you to rent them for private parties. What part of LI are you in?
Oz Catering & Night Club & Lizard Lounge both offer Sweet 16 packages. The Long Island Aquarium has a really cool Shark Room. m
For a nightclub theme, all you really need is a large space with a roof!
Look for expo-style space, check warehouses/storage units for 1-time rental options.
This place looks awesome, but is good for up to 50 ppl

: rainasplace
As for other ideas:
1. VIP passes upon arrival - make them on your computer!
2. Get a red carpet (less than $10 online/Party City)
3. Rent velvet ropes from a local event planner/party rental company
4. Get a DJ with a fancy lighting package, preferably including disco ball
5. Serve tasty virgin drinks in cocktail glasses w/garnishes - recipes: drinksmixer
6. Hire bathroom attendants for an extra touch!
7. Block off a VIP section with "bottle service", and serve sparkling cider
Have fun!!!