How possible is this?

http://reddragonwings.deviantart.com/art/Lulu-Wallpaper-18629817

http://fantasy-fairy.deviantart.com/art/Lulu-87984075

http://lunarvalley.deviantart.com/art/Lulu-8262153

http://petit-manchot.deviantart.com/art/Lulu-23364534

http://www.angelicstar.net/cosplay/reference/lulu-ref3.jpg

Ok, those are the reference images. Now I know I'm new to 3D art, but if anybody has seen my thoughts on deviantart.com, you'll know that ideas and images are pounding my brain again, so much that I can't keep up with it. I may be working something to complex with this idea, but honestly, this is for a later project, but one I want to gradually work on over time before I actually use and render the image I have in my head. So here's my question, and I've searched everywhere I can think of to find an outfit similar to this...most importantly the skirt with the belts and leather backing.

How can this dress (skirt) be created to work like other outfits where they can stretch and move, twist and bend to the movements of the character? Is it possible to add the weight of the buckles? Incorporate what TYPE of leather to use? ie. soft, worked white tailed deer leather vs thick, hard as hell to work with cow leather/rawhide?

My goal: Fit it to a V4 model like a normal dress that will stretch and conform to the figure of the model, while allowing freedom of movement during an animation. Max movement should be running speed/strides.

If this is possible, HOW can I do this? What's the best approach? I talked to Temprah, and she said she had never done it before, and all my searches of 3D artwork of the character of Lulu turned up with nothing that could be of use.

Thanks ahead of time for any responses!

-Devyenn aka Adam