Whoops! Miley Cyrus had a MAJOR wardrobe fail

Miley Cyrus had a MAJOR wardrobe fail while co-hosting her New Year's Eve Party

Co-hosting her New Year's Eve Party special on NBC with Pete Davidson

Miley Cyrus Function was streamed live from Miami, Florida on Friday night

The 29-year-old Hannah Montana alum was performing hit single Party In The USA

After the clock struck midnight when her top - which was held together by silver straps - came undone.

She was forced to catch it with her hands and appeared stunned as she looked down at her chest

Moments later, Miley reemerged wearing a bright red blazer in place of her broken top

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She'd paired her unreliable top with a matching skirt that just barely concealed her derriere