Real air horns don't have to be that expensive, if you're lucky and shop in the right places. I picked up some new-in-box Grover
http://www.groverproducts.com air horns at swap meets cheap, plus one big used horn that's over 2 feet long. For a compressor I've got one that came out of some car application (maybe air shocks); not sure how good it'll be, but for $10 I'll take a chance. Watch out for antique auto swap meets, or go down to a wrecking yard; you might be able to buy a whole system for cheap off some truck or RV (horn, tank, compressor, valve).
The ultimate air supply is to adapt a car A/C compressor (York is supposed to be easiest); popular among 4-wheelers. Do a google search on on-board air and york compressor and you'll find all kinds of examples.
All this isn't exactly "easy" unless you go down to the truck or RV store and wave your credit card, but it'll be so worth it the first time some @#$%$ cuts you off and gives you an excuse to yank the cord.