While that would make for an awesome concert film, it otherwise wouldn't be very cinematic.
I would eliminate the gambling and charity, though. Formalized gambling could actually net you money (stupid investments, like in the movie, are another matter) unless your goal is to make stupid bets until you lose your 5%, in which case, why waste your time? I'm all for charity, but in the context of this challenge, it's not all that hard to do.
With these 2 things, you are not trying to blow the money in the spirit of the movie's rules; all you are really doing is saying "I have to blow $27 million instead of $30 million."