How about I challenge Jason to a friendly fight?
Why would you challenge him to a fight?
I wanted to teach him a lesson. He needs to lean the consequences of his actions. He had the nerve to slap me in front of my friends.
A friendly fight seems fine since there are rules and you're basically just sparring but what you described doesn't sound friendly at all. It sounds more like you want to beat the crap out of him for what he did and that isn't okay. Both of you will likely get in trouble if it turns into a real fight.
I don't see what's wrong with it. It's fine for me. I want to punish him for being a bully.
If you're going to fight someone, then you should first agree to rules and that's fine. Generally though it is considered to be in poor taste to just fight in a barbaric fashion.