First, I would check with other OCR Members who have headed successful projects, like The Damned (Pokemon: The Missingno Tracks), Level 99 (NiGHTS: Lucid Dreaming), k-wix (Mega Man 9: Back in Blue), and KyleJCrb (Super Dodge Ball: Around the World) and ask how they went through it.
Since you haven't posted anything yet, I would recruit a creative director. Since the album as a whole will be judged for quality, I would recommend someone who has posted on OCR before to check each submission.
Preferably, this album should be released in 2013, the 15th anniversary of the first Banjo-Kazooie title in 1998.
I wouldn't mind helping on this project. I can't make music (yet), but I've been around long enough to see how things go.