After put on the life vest and head to the mid the middle of the LI sound if you can. Call 911 and notify the authority assuming that you have no VHF. Take jib down, reef the main as small as possible and head to the wind. Most of the daysailers are unsinkable; so lay low, hold on and ride the storm. It will be over soon than you think.
It is easier said than done, therefore practice often in a storm. It helps to improve your survival skills in a very bad one when you need to most.
I am old school. Integrity is to do the right thing even when no one is watching.