Nola.com says this year's Mardi Gras is expected to be one of the biggest every. The main reason for the large expected turnout is this year's Mardi Gras falls during college spring break.
The official data for Mardi Gras is March 8th, but there are many parades that begin before that date. You can find a schedule here.
Nola.com also has a special Mardi Gras section here.