Chronicle-Telegram By LIZ SMITH Sat., May 12,1984 SIC TRANSIT GLORIA! My pal, Gloria Steinem, was considered brave when she admitted to being 40. When she was told “you don’t look 40,” she uttered the immortal line, “This is what 40 looks like!” Now the liberated one will celebrate being an incredible 50 May 23 in a big bash at the Waldorf to raise money for the Ms. Foundations. Mario Thomas and Phil Donahue are hosts, and Bette Midler is the star! The chairfolks are Betty Ford. Sally Ride, Billie Jean King and Alice Walker. Stars galore will fly in for this one â€” Alan and Arlene Alda, Jane Fonda, John Y. and Phyllis Brown, Bella Abzug (she’ll fly up from Greenwich Village), S h i r l ey MacLaine, Ralph Nader, Joan Kennedy, Sharon Percy Rockefeller, Cicely Tyson, Carol Burnett, Candy Bergen, Pat Collins, Joe Raposo, the Robert Bentons, Peter Jennings, Tom Brokaw, Joan Lunden, Marvin Hamlisch, Cyndy Garvey and possibly all three Democratic candidates.