Well, you should start by having energy.
If you're going to be the life of the party you'll need focus and attitude. You get those form eating and sleeping well. If I don't eat breakfast, or sleep properly then I start falling asleep and become a wall flower. Or I just don't have enough energy to talk.
This happened to me once, then I took a nap and had some coffee, then I was 100% better.
You always need to be looking for ways to have fun. If a party's boring or something then you need to find a way to make it interesting. I'd challenge people to thumb-wrestling, make food towers and have people help me out with it, talk to everybody, play twister, etc.
You don't necessarily need an anchor, but it can help. Have at least one friend at the party you can go back to after socializing with everybody else.
Before the party have your friend come over to your house, or go to their house. Have a pre-party and get warmed up, socialized, maybe a little bit drunk. But not too much...
To be the C&F guy you need confidence. In the day-time it can be a swelling, calm confidence. At night it can be a wilder confidence. And being funny could help
Work on you cocky comedy if it's not up to par. I'm just a big smartass all the time, so it's pretty natural. the effect my C&F has is different depending on my mood... If I'm feeling pretty calm then it's light-hearted and sweet. If I'm more energetic then it's a little more hard-hitting, and they usually start giving me little slaps and stuff. This isn't really a bad thing, but I don't like to foster that kind of behaviour too much. If this happens you could give her a spank, or something. Or kiss her hand. Or do whatever you'd usually do... If you have one. I've also framed girls' behaviour of being sexually aggressive, and that she just wants to grope me - it worked out pretty well, and once they actually started groping me afterwards.
I'm not sure if what I do would qualify as C&F. Most of the time my comedy's random, and leaves them speechless. It hits most of the time except with one girl who didn't share the same sense of humour as me. she was just left confused and thought I was kind of strange - not sure if it was a good strange or a bad strange. I asked one girl who was left speechless and said she didn't know what to say afterwards if it was good or bad, and she said it was definitely good.