Same idea as Party Time, just that this means you must do all 3 levels.
Completing 1 level means all 8 players (hotseat play, no LIVE) take turns 1 after another running through the level. There are 5 rounds, each round of each level must be completed to unlock this achievement. The easiest way to complete this by far is to use a turbo controller and make sure that A is turbo'd. Once you complete one level, move on to the next. If you die quickly, the mission will go fast, otherwise there is a (1.5 minute) timer that counts down. One level should take around 30-45 minutes to complete using the turbo method. Not all spots are conducive to getting yourself killed, so even if you actively try to get killed, it may take some time.
Also of note, if you don't pay attention when turboing the game, it will restart the mission instead of letting you choose (or moving on to) the next competition map. If you notice that you restarted the level (see that you are in Round 2 and remember seeing Round 4) you can quit and will still be credited for that levels completion.
The achievement pops as soon as you complete the 5th round of the final competition map and the players scores are displayed.