I find it very important, as others have noted, too, that you structure the process so the most people possible get an opportunity to be included. Definitely only allow one entry per person until a certain timeframe (a day or two) passes by…and then you can buy as many slots as your heart desires.
If you make payment via paypal friends & family (or whatever it's now called), then making multiple purchases over a couple of days won't extract additional fees and what not.
A suggestion. Perhaps if you guys determine the buy prices on a couple of the sets you're targeting (that fall within the price range you are seeking), you can then list those sets here and people could specifically vote on which one they would like you to use for the group break?
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