DANCING OSCAR NIGHT AWAY.

Byline: Janet Weeks Daily News Staff Writer

One billion people are expected to tune into the Academy Awards on Monday. And they will, en masse, head to the refrigerator or restroom at least three times:

When the accountants from Price-Waterhouse are introduced. When academy president Arthur Hiller makes his speech. And when the dancers hit the stage for the big production numbers.

Choreographer Otis Sallid knows this. But he knows something else, too: The folks who stick around for the dancers are going to be treated to something good this year. It is his vow.

``It's going to be a lot of fun,'' says the film and Broadway veteran best-known for the movies ``Do the Right Thing,'' ``Malcolm X'' and ``Swing Kids'' and the musical ``Smokey Joe's Cafe.''

``I'm going to be making it a lot of fun.''

This is Sallid's first year as Oscars choreographer, taking over from Debbie Allen. Unlike past years, when there was a production number for each Best Song nominee, this year there will be only two - one by an invited dance troupe (Sallid says he is sworn to secrecy) and one created by Sallid for ``That Thing You Do!'' from the film of the same name.

``There's not a lot of songs that are danceable,'' he says of this year's crop. ``You're not going to put choreography to Barbra Streisand (nominated for ``I Finally Found Someone'' from ``The Mirror Has Two Faces''). There's not, like, a `Lion King.' ''

For his number, Sallid auditioned 1,500 dancers from around the world, each hoping to display their talents on the most watched show of the year. Sallid chose 32 for a bouncy, '60s-style tribute to the song.

``I'm not nervous that it's going to be good or bad - it's going to be good,'' says a confidant Sallid. ``I'm more anxiety ridden about the details.''

Born and raised in Harlem, Sallid was inspired to dance by classes at Harlem's Kennedy Community Center. He later attended the High School for the Performing Arts (made famous by the TV series ``Fame'') and the Juilliard School.

``I always knew, since I was 10, that I'd be a film director and choreographer,'' says Sallid, who is working on a movie deal. ``I just knew it.''

And he's working to make sure there are Otis Sallids in the future. In his spare time, he created ``The Children's Dance Project,'' a 10-week class in Sherman Oaks that is part of his personal dedication to mentoring.

The children, ages 8 to 17, pay only $10 a week for the class.

``The local community centers are so important to survival of the arts,'' he says. ``The small mom-and-pop schools. These are the places that inspire the Diana Rosses and Barbra Streisands. We need to take our hats off to them.''

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Photo: ``I'm going to be making it a lot of fun,'' says Otis Sallid, this year's Academy Awards choreographer. He has created a number for the song ``That Thing You Do!'' from the movie of the same name.