Entrelac in the Round

I have decided to add a new sub-skill to one of my favorite techniques - entrelac! I've been sitting on two skeins of Knit Picks Chroma Worsted in Paperback - a soft, subtle blend of greys and tans, and while the original plan was to knit a scarf for sale, I now have a much more exciting, if less profitable idea - legwarmers!

Chroma looks GORGEOUS in entrelac, and having just knit some legwarmers for a friend, I'm feeling the need for some of my own.  The weather is getting colder, I just bought some new skinny jeans, and I have the totally awesome book Entrelac: The Essential Guide to Interlace Knitting to guide me.

I have pretty large calves, so much so that I have a lot of difficulty finding tall boots that fit, and knee-high sock patterns always have to be extensively modified, so this will be quite the challenge.  Do I make the legwarmers loose all around and then drawstring them at the knee? That could be cute, especially if I put little pompoms on the drawstring.  Or do I want to do some shaping? And if so, how do I handle shaping with entrelac? Do I switch needle sizes? Do I increase internally in the squares?  I can't wait to get started!

Oh and by the way, how freaking cute does my daughter look in her her knitwear?