All the proceeds from the drop will go to the American Red Cross.
The labels have called off their Grammy Week events due to the Southern California wildfires.
A donation link has been set up to help him and his family.
The eight-time Grammy winner is set to deliver "America the Beautiful."
The latest effort to help those in need depicts Ghostface from the "Scream" movies dressed as a California firefighter.
The telecast will raise additional funds to support wildfire relief efforts.
The rocker's wife revealed that are safe after losing their Malibu home over the weekend.
Singer Les Claypool posted images of the destroyed house, writing "my heart hurts for him and his family."
The donation is earmarked for those in Altadena and Pasadena who have lost homes, as well as to churches and community centers.
"I feel so deeply sad for the family that lent their home to us to create this video," Michaels wrote in a comment on YouTube. "My heart breaks," Morris said.
