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This dress code sounds like it's more for the school than for Disneyland. During normal hours of operation Disneyland requires that you wear no offensive/gang related articles of clothing and no child over the age of 9 can wear a costume.

So, I think the costume idea mentioned previously is out. Ripped jeans is fine, just so long as you don't show off any of the butt or hoo-hoo. As for the stomach. I'd say a shirt that is at or near the belly button is fine, but if you want a shirt that is right under your boobs that would be a no-no.

Sounds to me like more of a school dress code than Disney... but a little of both

As long as the shorts are "tasteful" and not ripped in the crotch or butt with panties(or a thong) showing then they should be fine.

The short shirt... as long as it's not a "hooters" top that your boobs hang out from under it or really revealing or see through you should be OK.

I would just dress comfortable.... maybe tank top and shorts or capri pants with your comfy sneakers.

Have a good time.

Hmmm... I suggest you go as Jasmine, from Aladdin is you want to show of your belly area. But as it's a graduation night if you can find a ball gown like Cinderella or Snow White it's be really cool. If you want to be super creative, you could put together a native indian costume like Pocahontas! As for the rules about cropped shirts and stuff I think you might have to put off showing off your belly for another evening, you don't want to get sent home or something because of your outfit. :)