Yes!

You come unbelievably close, but you manage to hold it back. "That's a minute!" you hear, as the black haired woman immediately stops, leaving you out of breath. Your erection aches, but you're endlessly thankful for it.

"Congratulations, baby boner! You win! You get something to wear!" She holds out her hand, and a tiny pair of white panties with the words "spank me" written across the back in pink lettering. She pulls them up over your legs, stuffing your still erect cock behind the thin, white fabric, still leaving very little to the imagination. "Awww, look how his tiny little dick fits so perfectly. It's like he was meant to wear them."

Your cheeks burn with embarrassment, as the crowd around you takes picture after picture, a good number of them wiggling their pinkies at you and laughing.

"Of course..." says the raven haired beauty who's been torturing you, "That doesn't mean we're done with you." She suddenly grabs you, and bends you over a nearby counter, delivering a number of hard slaps to your ass. With each one, your hips thrust forward, rubbing your little cock against the bottom of the platform.

"This is what you get for stuffing your pants, and pretending you have a big dick, when you barely have one at all." she says, spanking you a few more times. You feel your cock start to tingle again, and you let out a low moan.

"Oh my god!" she says "I think he's enjoying it!" She then grabs the panties, and yanks them up your ass, pulling them tight against your erection. The feeling of the soft fabric rubbing against the head of your cock sends you over the edge. Your body spasms, as waves of pleasure crash over your body. You can barely hear the crowd, some laughing, some shrieking, but all of them watching you cum in your panties.

Once you finish convulsing and moaning, you look around, your senses slowly coming back to you as the crowd cheers. Your cock shrinks back to it's normal state, as the black haired girl gives your ass one more slap. "Now we're done with you. You better get going. Looks like you need a change of clothes."

You look around for some mercy, but everyone has gotten their pictures, and are going back to the party. With no other option, you run out of the cafeteria, and back to your dorm, people along the path pointing and laughing at the man in the wet panties with the tiny bulge.