My daughter is out of control! What do I do? HELP!?

My daughter told me how she stayed up to 7:15AM in the morning with her delinquent friends. Some drink, and others smoke weed. She attends sleep-over parties for boys and girls at different houses. She wanted to go see one boy ALONE at his house when his mother wasn't there. She failed Math and is in summer school, but she is getting 90s & 100s. Her one friend who drives everybody everywhere does weed and is not a very good driver. He over-packs the car with kids and drives around. Should I have an intervention? I could have her escorted to a Catholic all girls school somewhere far away from her friends and boys. Maybe they can force her to be a nun. I told her how my father used to drive drunk and I had to tell him when he was on the wrong side of the street, and how I used to drive drunk. I told her to call me even if its 3AM and I'd come & get her & the kids. What do YOU think I should do???