I used these earplugs and they worked wonders as far as not muffling the music nearly as badly as the normal foam ones you get at CVS or whatever
Just buy a hammock stand, my friend brought one with him to ML and TW the past few years and it's awesome. Here's a link!
I've only been to one festival before MLUSA (Firefly) and my advice would be don't bring a lot of clothes. Like two shirts, a pair of shorts, and sweatshirt. Bring a few pairs of underwear and socks as they will be very important. This should hopefully save space. Instead of bringing a latern, I would recommend this flashlight/lantern combo from Amazon (http://www.amazon.com/UCO-Clarus-Lantern-Flashlight-Dimmer/dp/B00A3SBH06/ref=sr_1_2?ie=UTF8&qid=1431722877&sr=8-2&keywords=flashlight+lantern). Save some space