okay here's what i did to my madrid apricot crowns. instead of using the folding method, i took out some of the side stitching and resewed it.
here is the outside of the seam that i altered. i only took in one side since i wasnt reducing it by too much. one side is easy to take apart (the side that doesn't have the stitches showing). the other side seems more complicated, i would just go to a tailor if you want to reduce the flare from both sides.
now for the inside. i had to cut off the hem first so i could i take apart the side stitches. you can see the extra fabric that used to be on the outside..about an inch.
the next pic is of the zigzag stitching i used on the inside. warning: i have horrible
sewing machine technique...try not to laugh. i would have done it by hand, but i was rushing. the darker imprint is where the original stitching was.
note how my zigzag stitch is crooked and uneven but it doesnt show from the outside since the fabric still folds on the original crease. the stitches basically just keep it in place but they dont determine the crease line.
i hope that helped a little.