The insects are inactive at night, especially a cool night, so that should be one element of your attack strategy.
The long distance wasp sprays are effective... and they are flammable!
So you could approach the nest in the dark and spray it with the wasp killer, then go the flaming arow route (always a nice effect) for a finale.
If you do the fire trick, have a couple of fire extinguishers with you to control any unintended firestorms.
If the nest is really as gigantic as you say it is, you may want to have a friend come on your "terminate with extreme prejudice" night-op. Make sure you have the wind at your backs so that you don't get hit with the mist, and make sure you don't spray each other with the wasp spray - it is toxic stuff!
Don't lose any sleep considering that your action will somehow lead to a shortage of wasps worldwide. It won't, and if you don't kill them, they remain a threat to you and your loved ones.
You cannot negotiate with an insect.