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Have your wedding later in the evening and serve desserts only instead of a full dinner. It is no longer a "must" to serve a full meal as long as your ceremony and reception are late enough for the guests to eat before they arrive. For our backyard wedding, we had a "dessert buffet" that looked very classy but was only a fifth of the cost of serving full meals, plus it left us more time to have fun with our guests! Be sure to word your invitations so the guests know it will be desserts only. Our invitations read: "Sunset ceremony will be immediately followed with dessert and dancing."
This page has wedding stategies and ideas for feeding big parties. Most of these ideas are either inexpensive or have inexpensive alternatives.