Are there any legality issues with creating a t-shirt which uses a band logo if you don't make any money?

I want to create a t-shirt which will be given away free to about 200 people. The preliminary design uses a modified Rolling Stones logo (the mouth and tongue). Basically, it's the mouth with a long red rope coming out of it instead of a tongue. Are there any legality issues if there is no profit being made and if the logo isn't the exact same (although it's obvious it's a rip-off)?