I seem to remember that at one point (before you joined the active community, GoldBoxFan, and also due to the decreased size of it) we were starting to call events like this a "challenge" instead of a "contest" (see "Mystery Challenge"), and that's how I would approach it, similar to what hans said. There would be no first place, second place, last place etc., and so there wouldn't be a need for disqualification either. Everyone's a winner as long as they manage to create a module in time, and the reward would be your module being played and reviewed by a jury, so that you have a guarantee of getting feedback for it (which, of course, could include a short analysis of how well the challenge's requirements were met).