New Years in Times Square Advice Needed?

My husband and I are going to New York for New Years ( yes, I know we are crazy and I know its insanely crowded and over priced, but we want to do it once) any how I would really appreciate any advice from natives or experienced Times Square New Year Eve party goers. I have been online and my head is swimming from all the options. Best price for airline and hotel - where to go on New Years so that we are close to Times Square or better yet in it (not actually standing in it - I'm not a sardine). Any advice bring it on! Please only constructive advice wanted - I have had experience with sarcastic comments from people that have nothing better to do than leave nasty or unwanted, unhelpful comments - please don't bother! I appreciate and thank all of you that may offer helpful insight to make our experience the best possible!