Your schedule is packed and you just can't make it to L.A. for the Oscar festivities this year. Besides, rumor has it that Vanity Fair may actually try to cut back on the number of celebrities on their guest list. So you've decided to throw your own fabulous Oscar fete at home. To help you put on an award-winning evening, we asked Nik Manojlovich, host of the HGTV's Savoir Faire, for advice.   Start by sending out invites a few weeks before the big night to make sure the stars in your universe will be able to join the festivities. "One friend of mine hires an impersonator to call guests. I'll never forget picking up the message from Sylvester Stallone inviting me one year. Hysterical!," recalls Manojlovich. Another option is to produce a glitzy invitation yourself. Incorporate movie symbols like gold stars, film reels, and little gold statues.   Next, you'll want to transform your home into a Hollywood haven. Head to the discount store to pick up a segment of red carpet. Put up movie posters and hang lightweight stars from the ceiling as well as placing them on tabletops and mirrors. Or fill the space with gold, black and silver helium balloons. Go big and bold. "Don't forget, this is Hollywood," encourages Manojlovich.   When your guests arrive at your door, greet them dressed in theme with one of the nominated movies. Perhaps a touch of academia this year for A Beautiful Mind? If you're ambitious, go all out and make an appearance as your favorite movie star.   To make your guests feel like celebrities, think of playing papparazzi and snapping photos of the evening with a disposable camera. "I surprise my guests by taking an unexpected shot of them on the red carpet and then put the photos up on a poster board," says Manojlovich.   The Oscar contest is de rigeur for any Academy Awards bash. Hand out scoresheets and ask your guests to write down their winning predictions. At the end of the evening, you can present a prize to the clever person who has correctly guessed the most winners.   Throughout the evening you'll want to offer hors d'oeuvres or desserts. "Gone are the days of the formal, sit down, pre-Oscar dinner parties," says Manojlovich. But, sweetie, you can still impress. Why not do a Spaghetti Western buffet, where it's all about different pastas, and a classic Caesar salad served with crisp garlic cheese bread?   Beverages should mirror a Hollywood shindig. "I'd begin with classic cocktails like Martinis and Manhattans. Then move to champagne or sparkling wine while the winners are being announced," recommends Manojlovich. Goodness knows a little bubbly will make the time fly when the actors are giving their acceptance speeches.   The show will be over before you know it and you'll receive the award for host or hostess with the mostess. - Deena Waisberg