Hello Earl,
I fear you are going to run into the same issue either way.

When going dynamic, the cloth polygons will strech and twist when bend, but so will the uv map.
Therefore, the texture, be it in displacement or bump or normal map will also strech and deform, just like the polygons would.
Putting these things in can be a pain and lots of trial and error.

If it was me?
I'd make the dress conforming and W-Mapped.
And when W-Map painting carefully avoid the area's where you put the piping.
And take care to put the same weight on the vertex of the piping to minimise streching.
Certainly on the side-side and twist maps.
The bend map is less sensible to this streching.

This is for ALL workflows, modeling them in, or bump/displacement/normal mapping them in.

Going dynamic, is going to the unknown.
You"ll never know the poses the dress in gonna end up in at end user level.

Going conforming, you keep the control (and quality) with you.
The dress is rather short, so W-Mapping it should be fairly easy.

Edited :

What I would certainly do in this case, is give the piping (your yellow lines) a different material zone and color them differently in Blender.
That way you can easy do some tests and see how the material zone behaves before engaging in texturing.

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