"The airshow is more than an airshow and we want to grow that."
The idea is based on the Goodwood Revival in the UK, a classic vehicle show, where huge portions of the crowd dress up in the style of an era of their choice.
Some people already come to Wings in costume, but this year the organisers want to encourage it.
"We are happy for people to come dressed up at any time, but this is taking it to the next stage and allowing the audience to participate," said Mr McMullen.
"A lot of people are into vintage and retro fashion."
Mr McMullen said it was not a typical modern fashion parade and was purely retro.
The competition has prizes for best-dressed woman and best-dressed man and will be run using social media.
Entrants will be able to post photos of themselves to Instagram as well as Facebook and Twitter using the hashtag #wings 2015.
The competition will be judged by the end of the event with the two best dressed contestants each winning a gold pass to the 2017 airshow.