Omicron

I know a really simple method I used for Skeletor if that would help?

not really :/ been looknig for one a while back aswell - sofar I recieved the best results by sculpting my folds in 3d and baking them onto my lowpoly mesh , which is probably not what you're going to do for a "simple" reskin - I can only recommend looking at refernce pics of similiar cloth , then painting some guidelines for the folds/wrinkles and then just start painting away on a 50% gray layer using doge and burn + blendmode Overlay