It's a bit hard to say without knowing the complexity of the page or the amount of customization needed. One option could be to let the affiliates create their own templates and stylesheets, which you combine with your own output using one of two methods:
1. The affiliates are allowed to edit a prepending HTML part and an appending part.
2. The affiliates insert your content using placeholders (not ASP.NET placeholder, but rather some kind of placeholder comment) in an HTML file.
Have a look at how www.spreadshirt.net and www.cafepress.com allows affiliate pages with customized look and feel.
You have to make sure that the affiliates' code doesn't introduce security problems, such as XSS (Cross Site Scripting)