This scene did reminded me of one of favorite movies: Madame Satan (1930). Except, I am guessing that your dance floor is not on an airship. Here is a description of that movie:

"In this Cecil B. DeMille spectacle, a costume party is held aboard a lavish Art Deco-style dirigible. The airship is damaged in a storm, forcing all the partygoers to parachute to safety."

... I recall that some just jumped into the water, but they all seem to still be having a good time throughout everything happening.