Dress 2 Jumpsuit?

Sometimes when I'm stressed I'll walk into a thrift store and grab a bunch of pieces that I like. Because the fitting rooms are closed, I don't really care for the fit as long as the piece is somewhat in my size (within 3 sizes) and I like some part of it (fabric, cut, color, etc.)

On a quick Goodwill run last week I found this beautiful summery dress. I honestly didn't even look at the size before grabbing it because I figured I could alter it somehow. The dress is evidently too big for me.

Before:

The dress is evidently too big on me. It could be fine with some hemming and maybe taking the waist, but I was inspired by dresses with cutouts, particularly CultGaia's almost $500 Serita dress, so I wanted to do something similar to that here.

Ideation:

I started by adding cuts to the sides of this dress. I want to play around with the shape of these cuts. I'm also toying with the idea of making this a jumpsuit because I rarely wear dresses. We shall see where this goes!