Sigh... "but it must be done" - says whom?
Some options might exist: Looking at the comments on the documentation for the (now-removed) PHP Safe Mode, I found a link to suPHP
which "is a tool for executing PHP scripts with the permissions of their owners". This would require local UNIX accounts for each user though - which I'm not sure is possible in your situation.
A real solution would need to go much deeper. I was once on a website that allowed you to compile and run applications in just about any language, as part of an exam. By compiling some "interesting" programs, I was able to determine that I was actually running in a QEMU VM "jail", and they were somehow funneling IO to/from the VM via my HTTP connection.
But the right answer is probably, of course, don't do it. With more information as to what exactly you're designing, we might be able to offer more sane alternatives.