OUT WITH THE OLD: A giant Father Time puppet snakes its way through Times Square last night, marking the end of 1999. - NYP: J. Alcorn IN WITH THE NEW: Baby New Year ushers in the third millennium amid the Midtown fanfare. - NYP: J. Alcorn PARTY TOWN: Times Square lives up to its nickname "Crossroads of the World" as people from around the globe descend on the hot spot yesterday to celebrate the new millennium. The Top of the World dancers (top) help usher in the new year as it hits various time zones, while a Times Square worker (middle) hands out floral tributes, and people party like it's 1999 (bottom). - B. Stelzer

The fabled "Crossroads of the World" was Planet Earth Party Central -- with giddy revelers from every corner of the globe crammed into a 16-block stretch.

"It's the party of the millennium1x" crowed Mississippi college student Carrie Smith, 19, who waited 16 hours to usher in a new age in New York style.

"It's like being in heaven," added Diana Ocasio, 32, of Tarrytown. "It's a good beginning."

During an all-day extravaganza, expectation and jubilation built hour by hour to a thrilling crescendo -- the drop of a crystal ball studded with 168 flashing lights from atop 1 Times Square.

As a giant sign flashed "2000," the screech of noisemakers erupted through Midtown, a brilliant pyrotechnics display lit up the midnight sky and multicolored confetti fell from above.

"I love it1x I was looking for the fast life -- and I found it," shouted Kimberly Zula, 25, who made a 15-hour road trip from Dayton, Ohio.

Thunderous screams of "Happy New Year1x" gave way to sweet renditions of "Auld Lang Syne." Strangers hugged, danced and -- as predicted, because of a system past its capacity -- vainly tried to call home on their cell phones.

"I was bored out of my mind, feet hurt, cold, couldn't go to the bathroom -- but the music started kicking in, people started dancing, they gave me a balloon and a hat and I went wild," said Joe Haltaman, 33, of Anchorage, Alaska.

Security was tight, with 8,000 cops ready to respond to Y2K chaos -- but nothing could bottle up the spirit of the crowd, which bubbled over like uncorked champagne from dawn to dusk and beyond.

Cloaked in sleeping bags, flags and tuxedos, they braved the winter chill -- filling every space between 43rd and 59th streets between Sixth and Eighth avenues. By 9¤p.m., police were turning away new arrivals.

"The crowds are enormous," Mayor Giuliani marveled as he walked through Times Square. "It's a great celebration for a city that's the capital of the world."

Although attendance at the $7 million street party was estimated at well over 1¤million, there were only a handful of arrests.

The throng started gathering Friday night and rang in the millennium in every time zone, starting with a 6¤a.m. celebration to mark midnight in the South Pacific.

Workers from the Times Square Business Improvement District doled out party favors -- eye masks, leis and silver and blue pompoms.

Pink "cherry blossom" confetti was released in Times Square at 10 a.m., when midnight arrived in Japan. Paper snowflakes, the Russian symbol of New Year's, drifted down at 4 p.m.

By the time Rio welcomed the new century, at 9 p.m. in New York, the Times Square crowd was doing the samba to ward off the cold.

"The vibe of the people keeps you warm," Officer Tom Schwaber said.

Penned in by police barricades, the party animals couldn't move for hours -- and they shunned side-street Porta-Potties for bottles and plastic bags.

Many brought bags of food with them, but restaurants sent in delivery people to take orders for $5 slices of pizza.

Between the hourly countdowns, the merrymakers found ways to amuse themselves.

On Seventh Avenue and 49th Street, a young woman pulled up her shirt to a chorus of camera flashes.

Nearby, Georgia resident Ande Anderson, 25, pulled out a diamond ring, dropped to one knee and popped the question to girlfriend Jessica James.

"It's so exciting. I haven't slept all night1x" she roared, answering with a resounding "Yes1x"

At 11:30 p.m., giant bursts of steam shot out from the stage. Fifteen minutes later, grand orchestral music swelled.

With one minute to go, the countdown started flashing on video screens. The million-plus shouted along in unison: "59 ... 58 ... 57 ... " as the ball began its descent. An hour after the ball drop, the crowds were still thick -- with some intending to stay until 6 a.m. today, when the last time zone enters the new millennium.

Cops began moving out anyone not behind barricades around at 1:30 a.m., dismaying some who wanted to stick around.

"I wanted to walk around the streets and now the cops have shut them off," said Geoffrey Colon, 14, of Astoria.

Still, almost nothing to could dim the collective glow of the partiers.

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