The 46-year-old actress is no stranger to theater -- she won a Tony Award for the Broadway revival of Nine – and makes sure you know it by showing off her trophy. "I'll just set my Tony here," she says.
Her audition includes quite a performance as she does the splits, a British accent, and plays dead in order to get applause in just a few of the laugh out loud moments.
And going beyond the laughs, Krakowski proves she can definitely sing!
Playing the actual role of Peter Pan in the live theater event is Girls' Allison Williams, who will show off her vocal range on Thursday. "It's the absolute dream job," she said of the part, while also commenting on the physical demands of the show.
"You get cocky and you stay in the harness for two long, and then you get saddle sore which is a very particular feeling," she said. "I have bruises everywhere ... but here's the thing, when you're playing a boy it's allowed. You can get beat up and it's totally fine."
Peter Pan's antagonist, Captain Hook will be played by Oscar-winner Christopher Walkin, and About a Boy's Minnie Driver will take on the role of the adult version of Wendy Darling. NBC's Peter Pan Live! airs Thursday, Dec. 4.
ET takes you behind the scenes of the Peter Pan Live rehearsals in the video below.