How to make this music video?

I currently have a Nikon D7000 w/ HD Video. I was wondering how would I go about making this music video>
I know they had much more expensive video and set gear for these videos, but I feel that it's very possible that any DSLR today beats the pants off the elite supreme gear then.Am I crazy?

I know it's more than video equipment. What other techniques, editing, tips?

I also go to art school, and have a lot of artists by my side, along with the facilities to do this.

Any pointers?

You want to remake this video?

I think first you need a video editing software for youtube, like youtube movie maker, etc. You could search youtube movie maker on google, and view youtube channel youtube.com/easymakevideo for some examples.