The good thing, is this should be very easy..
If this is a cosplay you plan to do a lot (or if you plan to do other cosplays often) I would look into breast forms. They will help greatly.If you don't plan on that, then there are a few tutorials online on how to make some for cheap.
For the hips, yes, buy a pair of pdded shorts or underwear. The shorts will be a little longer then "boy shorts" (the really short ones that hug the body) but still nice and tight, where the underwear will be more like just underwear..but with pads..I think the shorts would be better. You can hem them shorter too with the right stitch to let it still stretch too, but you won't have to worry about the hem line being annoying on the thy on the skin tight suit..
Having hair already like hers works lol I think you're fine here unless you pan to grow it out or cut it shorter, then still cosplay her..Then invest in a wig..
I would shave a little before hand..Like the week before start getting use to being clean shaven, it'll help a lot. But I would read more threads on this same forum and the makeup forum on concealing. but to make things simple, get pink lipstick, and liquid foundation in your skin tone. Use the lipstick on ALL of the areas of where your facial hair grows, then smear it but don't do too much because ou don't want it to be too prominent, nor do you want to rub it off on accident, then use the foundation to get your skin tone back over that. That should work for the whole day. Then wash it off before bed and redo it in the morning.
For the shoes, I think it would be ok if you didn't..It's not a huge deal with these because the fur is there and I wouldn't even pa attention to the heel because the fur is awesome enough..If you WANT to though, you can totally go that route and learn to walk in them..Heels like these will be a little easier to walk in, rather then the skinny heel type because they are less likely to break, nor will you have the big orry of "baby deer feet". This is where when you see sometimes a girl walking in them and it looks like they break their ankle..and they fall..The thick heels don't have this problem..
I hope this helps.
Cosplay DA Regular DA
-Fate Testarossa (Mahou Shojo Lyrical Nanoha A's) ~90%-
-Ryouko Ookami (Ookami san and her 7 companions) ~75%
-Amy Sorel (Soul Calibur) 25%-