Most of the Caley Thistle team will be making their first major final appearance when they take on Aberdeen in Sunday's League Cup showpiece at Celtic Park.
But Hughes has played in a League Cup final for Ayr and led Falkirk to the Scottish Cup final, both ending in defeats against Rangers.
His assistant Russell Latapy played against Hughes in that 4-0 victory for Rangers and has played at the highest stage with Trinidad and Tobago in the World Cup.
And the pair will look to calm the Caley Thistle players in the build-up to the final, which began in earnest following their goalless Scottish Premiership draw against Hibernian on Wednesday night.
Hughes said: "I can only pass on my experience, being there as a player and a manager - play the game, don't get caught up in the occasion, control your emotions and don't leave anything on the pitch. If we do that, hopefully we will bring the cup back to Inverness.
"It's my job as a manager to use all that experience, and Russell, put it in there, keep them cool, calm and collected, and the biggest message is have no regrets, leave nothing on the pitch. Even after an hour if you have run the race, put your hand up and come off. That's the effort it's going to take.
"But you have to control your emotions. It's a wonderful day, it's there to be enjoyed, but you need to play the game.
"If you play the occasion, there's every chance you'll be a rabbit in the headlights."