Look on the Internet for pics of P-Diddy's Annual Black and White Party. He pulls it off with style. You can follow his lead and have all guests dress in striclty white or black. Decide how formal or informal you want the event to be and use your invitations to set the tone.
Or, focus on the decorations to carry out the theme. If you want to be more playful, use the colors to represent good and bad. Of course white would be angelic and black would be sinful. You can have one side of the room setup in white, the other black.