JCPenney offers the Stafford 7-Piece Full Complete Bedding Set in Red for $44.99. Apply coupon code "VIPSAVE" to cut the price to $33.74. Opt for free in-store pickup to avoid the $8.95 shipping charge. That's $96 off and the lowest total price we could find. It features a comforter, two shams, fitted sheet, flat sheet, and two pillowcases.
Note that it's also available in Queen for $37.49 or King for $44.99 after the above coupon code.