Team building event requires us to lip sync and dance with our bosses as judges

Just wanted to rant. The owner of my company rented a theater and is giving us a month to prepare for a dance battle. A lot of us are upset because it’s not something we’re comfortable with doing and we don’t have time outside of work to plan all this. I just think it’s ridiculous. I was told today that if we don’t participate it’s an automatic write up. Our bosses and supervisors get to be the judges also. Just so irritated