I definately "pack" with Frank. Omg. I use the duck body from one of my dog's old plush toys. The little sqeaker is still in there also! Haha. Plus I'm a big girl so I kind of exaggerate my fake penis size. Haha. But if you have that attitude your boobs shouldn't really distract to much. I just suggest a strapless nude bra. Here's some photos of my packing and boob-age.
Just a note on binding--I have a proper binder, purchased from Underworks, it gets me flat as a board. I don't use it when I play Frank, though, b/c I think it looks weird when I put on the floorshow corset later--it takes too long to get out of a binder to be practical for anything but a con-style show. I usually go with a tan bra that I can whip off in a hurry when changing for a regular show. There ARE binders that are like tube tops that could work under a corset without looking weird over the shoulders, but I've never tried one.
That all being said, ace bandages are incredibly dangerous to bind with. They're made to constrict, so while you breathe and move around, they will continue to tighten. Wear them for any length of time, and you can do serious damage to your ribs, let alone your breast tissue. I recommend investing in a proper binder if you're going to bind at all, and making sure you don't wear it for too long.