Remember that their midriff must be exposed all or at least most of the time (sorry Akari-chan fans).
My favorites:
Almost the entire cast of Queen's Blade and Queen's Blade: Rebellion
Panty and Stocking (from Panty and Stocking with Garterbelt, not a fan of the show's art style, but it makes for some freaking amazing cosplays)
Natsuki Kruger (My Otome version, the perfect combination of professional and sexy)
Faye Valentine (from Cowboy Bebop, I'd be a heretic if I didn't include her, wish she wasn't a chain smoker though)
Kirara Mikumari (from Samurai 7, I'm agnostic, but there's just something really hot about religious chicks who dress like this 8))
Jo (from Burst Angel)
Yoko Littner (from Gurren Lagann, I think I like her space outfit most of all :D)
Kanu Unchou (from Ikkitousen, the absolute definition of a bad-ass sexy schoolgirl 8))
Honorable Mentions:
Revy (sorry Black Lagoon fans, Revy's just a little too tomboyish and crazy to make my favorites list, I still like her though)