im not too sure you are going to be able to get a T-Shirt 100 feet with only a 2" x 9" chamber...
For the barrel i personally would use a 3" pipe, i would use that for the chamber too but odds are that you will need to get fittings for the 3" online due to pressure ratings. I built a small cannon that had a 1 inch or 2 inch interchangeable barrel and about 12-14" 2 inch chamber i forget which one, and theres no way that could get a t-shirt even close to 100 feet (it can put a screwdriver halfway into a tree though)
So yea, your most likely going to require a bigger chamber to match the barrel size. Your total cost should be WAY under 100 dollars lets see
10" of 2 " pipe = 6-8 US for me
10" of 3" pipe = 14 US
10" of 1" pipe = 3 or so US
fittings = couple elbows, reducing bushings, couplings and male adapters = like 5-8 tops probably less for small sizes if you use 1" for connecting over and under.
Sprinkler valve = 11-18 , 11 for me it varies where you are though it seems.
Blowgun = 2-5 , and another 80 cents for the 1/4" nipple.
I put both 1 inch and 2 inch pipe because i wasnt sure if you wanted to connect the resevoir to the barrel and valve with 1 or 2 inch pipe, the 1 inch you only need the 1 inch pipe, the 2 inch you will require the 1 and 2 inch diameters because the valve will require 1" male adapters.
As for the CO2 setup you will need a gauge, and a new method that has been going around is to use a CO2 quick tire fill thing for a bike, it is controlled so it can be turned on and off when the time is right.
Here is an example of one of those
http://www.livingincomfort.com/blaico2tiin1.html
You need 16g CO2 for those though so it might not work out for you.
I also found a model such as this one that uses cheaper, 12g CO2 , i think it is compatible with the same ones used in like a BB or paintball gun which are way cheaper.
http://www.bikepro.com/products/pumps/suprflat.html
Good luck with your project, be sure to show us when your done ^^