The 80s and 90s had a fascination with masquerades in romantic dramas and thriller genres. 'Dangerous Liaisons' might be another candidate, though the scene specifics don't exactly align with a red dress.

OMG I love this kind of question! It makes me so nostalgic! Could it be 'She-Devil' with Rosanne Barr? But I think the 80s had a lot of those types of scenes! Good luck finding it! ✨

Ugh, I swear I know what you’re talking about! The red dress and the feathered mask really stand out in my mind, but I’m drawing a blank. I’ll post again if I remember. 😅

Masked ball scenes are kind of a staple! Apart from the a-list suggestions, don't forget 'Hello Again' (1987). Might not fully match the description, but it’s from the era. Feathers and red dresses are common, so it’s tough, but give it a shot.

Was it maybe 'The Phantom of the Opera'? They’ve had a couple of versions around that time, and it definitely has masked balls in it!

Sounds like 'Eyes Wide Shut' by Kubrick, but that's 1999 and doesn't fit 'really old', though these days, everything feels ancient. The red dress is intriguing—it also might be 'The Masque of the Red Death' from the 60s? Though that’s pushing earlier than you mentioned.

You might be thinking of 'Labyrinth' from 1986? It has a masked ball scene, and it’s got some pretty memorable costumes. Jennifer Connelly wears a fancy dress but it's more of a ball gown than a red dress. Worth checking out though!