1. Drinking at a station event? Have MORE than 'adequate' security. 2. Have liability insurance at all events. 3. Be clear about the capacity of your venue, and have that in writing. Stick to your agreements. 4. Decide who will speak to the media for your station and company and have a plan in advance. 5. Be glad you're not Kerry Wolfe (poor guy!).
And, finally, after all that negative press, WMIL just had a great (6.3-6.7 12+, #2 rank) Arbitrend, so clearly their listeners understood that the station wasn't at fault and all of the buzz must have made for great entertainment..