One thing I forgot to say. Whips are cooler than bags, especially if you get a good vape with a whip. I spent a while checking em out at a store around here and they have super cheap ones for 90 up to da buddha which is around 300. If you spend 300 on a nice whip, then 200 is way more than enough to get a super nice bong or each of you could get a nice pipe too. With 5 people you could get a really variety of pieces too, sidecars, gandolphs, spoons, etc. or just get a bunch of weed and have an inaugural weekend for the new smoking device.
however, if you do decide to get a whip instead of the volcano, make sure you take a look at the heating element. you want to find one that will get the hottest the fastest.
also, i don't know if i said it before, but look up the optimal burning temp for your vape. vaporizers aren't supposed to give you massive hits like a bong, so don't worry if you're not blowing smoke out like a train. you'll get way higher with a smaller hit off a vape, because the weed is burned more efficiently and the amount of thc you'll get in a good hit off a vape is around the equivalent of chalking up a massive bong.
this is gettin extra long, but if i were in your place, i'd get a vape with a whip for less than 300 (there's tons of great ones out there in the 200-300 range) buy a sick bong (my buddies just got one with a percolated stem, dual chambers, and an ice stack for 160) and a grinder if you don't already have one, if you already have one (that is small) go out and find the biggest grinder you can find, the sickest one i've seen is the normal circular design but 4 inches in diameter and about two inches tall in matte gunmetal grey SO RAW.