Become a logician and say or. :^)
I also vote for and/or but dislike it stylistically. So here are some alternatives.
You can have cake and/or death. --> You can have cake or death or both. -OR- You can have cake, death, or both.
You can have cake, death, whippings, and/or nuts. --> You can have any or all of cake, death, whippings, or nuts. -OR- You can have any combination of....
You must have cake and/or death. --> You can't have neither cake nor death.
Maybe the last one is a stretch for non-technically-minded audiences. Maybe.
