I didn't really like the way our panhel did formal bid distribution but here goes:
All the pnms meet in one area with their rho chi and group and stand in a giant circle (yes, 600+ women in a giant circle, scary!) The girls who didn't get a bid are called in the morning but it's obvious to the group when she isn't there that Patsy Pledge didn't get a bid

Each PNM has an envelope with her name on it that she stands on. Then Panhel exec does a silly skit and then a countdown.... Then it's mad chaos as each girl rips open the envelope and sees the house she has now signed her name to. There are screams of excitement and happiness mixed in with tears and anger.
The sororities are waiting across the bridge on the lawn outside the sorority housing with a dj, photographers, fraternity guys, etc. Each sorority has banners, giant letters, and gifts for their new members. Everyone is cheering and chanting and singing. Then the new members make a mad rush over the bridge - in this mad rush girls get pushed, trampled, etc. The new members run to their new sorority to put on the matching t-shirt and accept their gifts and hugs.
Then some sororities look around to check out how many new members every other house got while we wait to get our group pictures taken. Some sororites intimidate girls who they wanted but the PNM chose a different house. Others comment about the looks of another house's new members. It's awful.
Then the rho chis are revealed and each sorority goes their separate ways to have their own bid day celebration.