The number, choreographed by Chinni Prakash, is called "Thank god it's Friday".
The movie's director, Sajid Khan, wanted to give Sonakshi the look of Sridevi and Parveen Babi.
He roped in designer Manish Malhotra and Sonakshi, who admits working hard for the song, is happy with the result.
"Manish has done a fantastic job and I absolutely love both my looks. I also watched the videos of their (the actress') old songs before I started shooting. I would even watch other songs in the vanity to understand the dancing and the style of that era," Sonakshi said in a statement.
For her first avatar in the number, Sonakshi has sported a vintage sequined golden dress and headband, which bears a striking resemblance Parveen Babi's look in the song "Pyaar karne waale" from the film "Shaan".
Sonakshi's other look where she is wearing black-coloured tight pants, a jacket and boots, is inspired from Sridevi's disco look from "Chaalbaaz".
"Himmatwala", a remake of 1983 hit movie of the same name, features actors Ajay Devgn and Tammanah. Co-produced by UTV Motion Pictures and Vashu Bhagnani, it will release March 29.