With your talent, that is, not with fireworks. Unless your talent is singing and dancing with explosives.

To promote the remake/redo/reimagining of 1980’s Fame (out Sept. ’09), MGM is hosting a virtual competition for U.S. residents 14 and older to show off their stuff. (Tastefully.)

It apparently doesn’t matter what you do — a flier claims that possibilities include “singing, dancing, acting, or surprise us!” — nor how many folks you do it with. (Again, tasteful, people.)

Just upload your video at MySpace.com/Fame by Aug. 3 for the chance to win various prizes, including $5000 cash, a photo spread (!) in OK! Magazine, a trip to Hollywood, a “meet-and-greet with a top talent agent and studio executive,” and — wait for it — inclusion of your wowza performance on the Fame DVD. Which I’m guessing will be released not too long after the film tanks.

Go to the MySpace site for more info, and consider: The promo’s promise that the winning bit of entertainment will “live forever” on the DVD could be a blessing or a curse.