A party thrown which starts on the 31st of July at any time and continues into the 1st of August representing the succession of the leaders of Rome i.e. Gaius Julius Caesar (represented by July) to Gaius Julius Caesar Augustus (represented by August). This party is most formally thrown toga style with laurels strongly encouraged. Wine is common to be found at these parties along with Sambuca Romana and other Italian drinks. At 12 AM on the 1st of August someone (usually the host) has to pretend to get stabbed and after the stabbing someone splashes red wine on the person stabbed to represent blood. The party continues from there as any normal party would.
Bob: "Yo I'm throwing a Roman Succession Party. Do you want to come?"
Billy: "Only if I get to pretend stab you and splash wine on you."
Bob: "Yeah that's fine, show up around 6, and bring some cheap red wine."