Something like this might work well for you. I've had a Memorex brand home karaoke player for about 7 years. It has taken alot of abuse from both kid and adult parties and still works great.
http://www.karaokewh.com/item_details.c ... raoke.html
and then 2 mic sets similar to this
http://www.karaokewh.com/item_details.c ... raoke.html