Tu vas faire la fête! and Vous allez faire la fête! are French equivalents of the English phrase "You are going to party!" Context makes clear whether one formal (case 2) or informal "you" (example 1) or two or more "you all" (instance 3) suits. The respective pronunciations will be "tyoo va fer la fet" and "voo-ze-ley fer la fet" in French.
"We're going to party!" in English is On va faire la fête! in French.
"Party" in English is fête or soirée in French.
"It's a party!" in English is C'est la fête! in French.
"A large party" in English is une grande fête in French.
"Come to the party!" in English is Venez à la fête! in French.
"la fête"
"I want to party!" in English is Je veux faire la fête!in French.
"Are you enjoying the party?" in English is Tu t'amuses bien à la fête? in French.
"You are invited to a party!" in English is Vous êtes invité à une fête! in French.
"Are you coming to my party?" in English is Tu viens à ma petite fête? in French.
"fête" means feast or party
j'ai fait la fête