I'm going to post this as the answer since I haven't heard otherwise:
"Madam Satan" (1930)
Angela and Bob Brooks are an upper class couple. Unfortunately, Bob is an unfaithful husband. But Angela has a plan to win back her husband's affections. An elaborate masquerade ball is to be held aboard a magnificent dirigible. Angela will attend and disguise herself as a mysterious devil woman. Hidden behind her mask, and wrapped in an alluring gown, Angela as the devil woman will to try to seduce her unknowing husband and teach him a lesson.
From IMDb review:
This is a strange film--a crazy quilt blend of bedroom farce, musical and disaster all rolled into one, resulting in an outlandish oddity. ... The second half of the film is infinitely worth waiting for--the crazy costumes, the static and plodding but memorably weird "Electricity" musical number (replete with lightning bolt accents and enough silvery, bright costumes glary enough to practically blind the eyes) and the downed dirigible disaster. The scene where a young female guest lands on the roof of a high building, holding onto a large weathervane after parachuting down, and pleads to a fellow male guest floating down, to help her, whereupon he responds, "I'm just passing through," is an amusing one.
Here's a clip on YouTube: