You could make a gothic gown that puddles on the floor and has bell sleeves with that much fabric! It's all in the way you cut it.

Check out this site
http://www.reconstructinghistory.com...=&g=&a=126&w=2
There are medieval patterns at the bottom of the page. I've made a gown and am starting another using this pattern. It is easy and uses a minimal of material. Plus it makes a great gown for all kinds of characters besides medieval and gothic, mine is black so can be a witch, dead bride, vampire.
You just have to be creative with the neckline and/or sleeves to really make it your own! I'm 5'8" and used less than 5 yards. It was 59 inch wide, but even still, you can easily use a narrow fabric. This would also help you with a trick I used to make sewing in the gores easier. Instead of one panel for the front and one for the back, I made 4 quarters instead of the 2 halves. This made it easier to add lacing into the front or the back, too.
Sew the sleeves on and the gussets under them, then put it on and decide where you want the tip of one the gores (should be at the narrow of the waist) and then measure from the bottom to set the other 3 at the same level before you sew. The gores may end up longer than the dress so just trim them off.
To add drama, make a second dress using this same method only add a bit to make it somewhat bigger. Use one of the Halloween patterned laces or a sparkle tulle in a color that would compliment the red like black, orange, yellow or another red.
Whatever you do with your material, make sure you take some pictures for us!

Val