I think it is great that you want to do something for the local scene and I will be the first to retract my post here if it all goes to plan... but I think that this is a questionable idea Kate, it is going to need much in the way of doom insurance.
1. There are indeed some smoking hot ladies in the local scene, but they are metal chicks, incooperative to say the least. Even if you CAN organise them, there are the bands to consider. It is almost impossible to get bands together on something as important as a compilation, getting them together on this is just an exercise in the absurd.
2. Most of you chicks have blokes, and many of those blokes are locals too. Maybe its just me, but I am not sure that all of them would want pics of their ladies dressed in something hot hanging on the inside door of their mates' toilets. On the flip side of the coin, there is the opinion of the ladies in the scene who may not want their blokes ogling pics of these local ladies. It is one thing to look at a hot chick posed in a provocative way that you DON'T know, quite another when it is ladies from the local scene we run into regularly.
3. Pics of Trease, Ama, Alysha, Mads and other similarly lovely ladies would make a smoking hot calendar, but some of the ladies offering may not be hot, and you chicks are too soft hearted to tell them so. Someone would have to wield the knife, and they are gonna lose friends, trust me. Once a pic is taken and put on a calendar it is forever. It will be looked at, discussed, critically analysed, chuckled over and generally dragged back into the open until the end of time, so a band will want to choose the lady who promotes them, and it could be devastating if some lady gets knocked back by all of them. Some of the best ladies in the local metal scene are really not calendar material, but I wouldn't trade them for Lara Bingle.
4. Ideas you come up with while drunk are not generally good ones.
I would offer a suggestion though: This COULD work, but not really as a calendar with one lady on the page. Groups of 5 or 6 ladies, both smoking hot and otherwise - on a page acting the way you guys really are in reality - vibrant fucking dynamos - would work way better, not just wearing band t-shirts but actually with a concept. For Naetu for example, all corpsepaint and darkness, for Wardaemonic more in the snowy forest. For Neverborn more of a lunatic theme, Claim the throne dressed as tavern wenches or warrior maids. Malignant Monster it would be blood and dirt, Enforce Denin and Bourborn bottles, Nexus maybe an sci-fi theme.... so many bands, so many options but you get the idea.
Do it right, and we will be interested, but it can't be half-arsed or you are gonna wish you never bothered.