PEACE DISTURBER - do I have any recourse to stop him???

Some attention needy a$$ is standing out on his balcony facing into our EXTREMELY echo-prone condo complex, and screaming. He's cheering for a sports game or something, but its almost midnight and he's waking up my family everytime he screams at the top of his lungs. He doesn't do it constantly- just every now and then - but for the last hour or so. I am tempted to go ask him to be quiet but I am afraid he's mad-drunk and will do something rash! Can I call the cops?? If so - can I just tip them off, or do I have to "file a report"? This isn't the first time this jerk has been blantantly loud and obnoxious and he is directly across from us. I get up at 5:30 am everyday...maybe I should just scream on my balcony every morning at how happy I am to be awake! Or would a series of reports of disturbance of the peace help in an effort to shut him up for good????? Please HELP!!!!