gah! lost my post!
That skirt has what is typically called knife pleats
, they don't overlap like other pleats but are a similar process (and the same amount of work). I'd use plain broadcloth but starch the heck out of it, do the pleats and possibly use pin tucks to force the pleats to stay put.
What are pin tucks? not nearly as hard as they look, here is a sample: http://www.etsy.com/listing/12477342...ure-silk-dress
If you do pin tucks around the skirt up, down, up, down, etc it'll help the whole thing stay in pretty knife pleats.