One of our bright undergraduates and I are trying to track down complete sets of party school rankings for a project I want to work on. So far it is proving more difficult than I had expected. My interest in this started many years ago when I was in graduate school at Chicago. During that time, a now-defunct national student magazine called Inside Edge did a set of party school rankings and picked the U of Chicago as 300th out of 300, below BYU, Oral Roberts, and the military academies. News stories here and here.
A college guide called the Princeton Review publishes rankings every year starting in the early 90s, but only provide the top and bottom 20, plus old issues of their rankings are not the easiest thing to track down. Playboy occasionally also enters this field of research; snopes.com separates fact from fiction in regard to their rankings.
The tax prof blog compares the Princeton Review and Playboy rankings and the wikipedia page on party schools also notes that various un-fun people like the American Medical Association have criticized such rankings. Methinks such people need to get out more.