Welcome to the forums Patrick.

Check out the Summit for penthouse suites. Most suites are privately owned, so you may need to go through private owners (check out Vacation Homes Rentals by Owner) Summit is right next to Spinnaker/La Vela. Boardwalk condos (beside Boardwalk hotel) might have something as well.

Holiday Inn Sunspree might be worth checking out. Not sure if they have suites, but the HI is a party within itslef.

BUT, if you really want to enjoy yourselves and have your own parties, rent a beach house!

More hotels and house rentals:
Panama City Beach Hotels & Rentals

Plenty of limo's:
Panama City Beach Limousines and Taxis

Contact La Vela and Spinnaker ahead of time for VIP arangements. CLV has bottle service and more. Spinaker will probably set something up if you're willing to pay. Both clubs sell a VIP card that is definitely worth buying (just to save cover charges and long lines - not to mention the $$ you save on drinks)
Panama City Beach Bars & Clubs

Good luck w/ Spring Break and thanks for serving in Iraq!