Personally I don't like the name "drag queen" - I prefer "female impersonator", and as long as the performer is still ALL male and the illusion looks convincing it is generally something I enjoy watching. Drag queens to me are those persons who have decided after years of being a female impersonator they go and get breast implants and start taking hormone and eventually have a complete sex change, and when in the process of doing all that they (in my book) are no longer a entertainer nor entertaining.
I would explain to your parents you are a "female impersonator, or illusionist" and if they show concern, about maybe you becoming a woman, explain it like you did here, you are just doing it as a extension of your performing, you will still be a male at the end of the day.