The first snowstorm of the season may have raged outside, but on the fifth floor of New York’s Lexington Armory, the atmosphere felt practically tropical.

Why? Because that’s where Miranda Kerr, Cara Delevingne, Alessandra Ambrosio and more of had assembled to prepare for the 2012 Victoria’s Secret Fashion Show, an annual meeting of fashion and entertainment on an spectacular scale.

‘This is one of the most exciting shows of the whole year,’ second-time Angel Karlie Kloss told us, noting that she’s ‘just as nervous’ as she was in 2011. ‘It’s the one that the whole world watches. This is the Super Bowl of runway shows.’

British model Lily Donaldson agreed. ‘We all come here and step into another world of glamour,' she said.

Along with the main event—65 costumes, 28 pairs of Angel Wings and the models themselves—the multimillion-dollar extravaganza features performances from top musical acts. This year, Rihanna, Justin Bieber and Bruno Mars will play as models strut past. ‘I think it’ll add a little pep in my step to have Bruno Mars serenading me,’ first-time Angel Hilary Rhoda said.

As you might expect of any woman about to walk down a runway, wearing lingerie, with the eyes of the world watching, most of the models said exercise represented a major part of their preparation. For Rhoda, that meant sticking to her regular workouts. ‘Exercising is a huge part of my life and I work out every day. I always fit in a workout,’ she said. ‘I did a spin class at Soulcycle this morning…. It’s really good music and you just get into it.’

Donaldson said she had embraced pilates (‘I like it because I can lie down’), but suggested that de-stressing before the show required a different approach. ‘I’ve been watching Planet Earth for the last two nights because it calms my nerves. Everything is so hectic in the lead-up to the show.’

For Kerr, the 2012 show involved more intense workouts than last year, when she was still breastfeeding son Flynn. ‘This year I’m all about getting into shape,’ she said. ‘We’re here to have fun and have a good time. But at the same time, there’s a lot of work that goes into this show, so you want to do your best.’

The Australian model will appear in three different ‘acts’ during the show. She’s most excited about taking part in the Circus section. ‘I was a gymnast growing up and I’m really excited to see the acrobats,’ she said.

Not that she’s about to start tumbling down the runway. ‘Can you imagine if I got to the end of the runway and put my leg up? That would be really cool. But I don’t know… in my underwear, it’s a bit risky to have my legs all up in everyone’s faces.’

Find out what else to expect from the 2012 Victoria's Secret Fashion Show

See our coverage from backstage at the 2011 show here, and see all the pictures from the show here

Read about Karlie Kloss's new cropped hair