Might I suggest that you actually wear a normal shirt underneath it, but compliment it with (essentially) at duct tape dickie? (
http://en.wikipedia.org/wiki/Dickie).
This would be immensely more comfortable, and cooler because you'll have only the coat as far as duct tape goes, rather than the shirt as well.
Probably going to need some type of stockings as well if you're going to manage to be even remotely comfortable for the evening.
You will be able to bend your arms, though you've probably got a limited amount of wear before the tux wears out on you.
Love to see pics when it's done tho!
db