JPO, your way seems reasonable as approach, although not the only one, it almost seems you are talking like is the "only" way to do it...
I think that the art of a colorist is also interpretative of the desire of the client and understanding the language converting that in a real action (button presses). Bashing as
"approach smacks of a Photoshop-locked mindset " does not look constructive to me. (But a usual is just an opinion)
So, if up to this point we gave more or less instruction in how to perform a task, why we don't approach in understanding what the client is trying to tell us?
and the reds are just a little too bright and hot. This makes skin look slightly unnatural and flat. I want to find a way to isolate the highlights and midtones of the red channel only, not just the red pixels in the clip, and then just darken them slightly.
Hot might indicate too saturated, the hue drifting to red, too bright respect the desired value or a combination of them all.
So, I think that the OP should post a image and we can see. Instinctively I will adjust the whole image (comtrast/tonal curve/brightness/saturation/black balance/white point) until the color is coherent with the scene, then I will see where the skin lay. Probably I will have at that point one of two approach it, either use curves to deal with the hue/luma/sat changes, or I will make an extra node, select very softly that color and using primaries grades shift it where I want it...
jjsgt84, what's your take?