Strip poker is a classic game, and for good reason. It can be a slightly risquรฉ party game (try playing a round of old-fashioned Spin the Bottle after every winning hand) or the perfect way to set up a long night of affection between, or among, consenting adults. Watching someone else take off a piece of clothing every few minutes can be a great tension-builder, especially when you have to earn it. House rule: even if you're missing the most clothes when it happens, you automatically win if the other player(s) jumps your bones before you're fully naked.
The problem with strip poker is that it's rarely played as poker should be; when the only question is who loses a piece of clothing after each hand, most of the poker dynamic is lost. If all the choice you have is which cards to exchange (and whether you actually want to win), there's no raising, no folding, no reading your opponents. Even if you don't actually care for the game of poker, losing clothes after every single hand will get people naked too quickly to build any kind of tension, and it feels anticlimactic when someone finally wins.
The solution is to play real poker, with actual poker chips or money (maybe from a board game); the difference is in how you handle the money. Instead of taking the money home or treating everyone to pizza with it, let the money decide who takes what off, and when. There are plenty of ways to play this kind of game:
When a player gets low on money, you can pay him or her from your own pile to take something off between hands. It's probably best to briefly work out a general idea of how much each article of clothing is worth before you start playing. It's also advisable to raise the price after each piece is lostโafter all, is it better to see someone take off her pants or her watch? It also raises the feeling of expectation and accomplishment when you have to win three hands to get enough money to buy someone's shirt off.