I would say it sort of depends on what you want out of the project. If you want to learn something, enjoy it, challenge yourselves, etc, I would suggest some crash-research into scrum & agile (if you haven't already) and run the project that way. Start with your user stories (all of you), split yourselves up into arbitrary scrum roles (if your skill-sets are all similar, this can even be random if you like), create your backlog, plan and execute your first sprint (maybe 2 weeks if the project is 3-4 months total). Then for the next sprint, rotate roles. That way, you all learn something new, hack-y "silos" are prevented, you probably end up with a pretty decent product at the end, and you all learned a marketable set of new technical and organizational skills (working in a cohesive scrum/agile environment). And don't forget to keep it fun! :)