RodneyVikens My thoughts on this would be for someone to write a simple song (maybe a forum poll to decide on genre?) and everyone writes a solo/lead part to throw onto it and one person can edit and put it together and mix it (for consistency, I'd probably recommend recording DI tracks and the person putting it together reamps or uses VSTs for the tones - but this is optional)
Alternatively, we could do a song where like @RodneyVikens suggested, have a producer that can guide songwriting towards a goal of a particular genre and BPM we've decided on (also by poll) and each person is assigned a part to write (e.g. intro, verse, prechorus, chorus, bridge, solo, outro, verse leads, chorus leads etc., drums, bass lyrics and vox) based on a random number generator selection. We'd just have to do this quite linearly for some level of songwriting consistency (i.e. Intro is written by the relevant person, then the verse person writes the verses based on having heard the intro part and so on)
In approach 2, the Producer can be in charge of ensuring consistency and providing feedback on parts where he/she might feel minor changes would suit the song better