Of course you can do it the way you describe. There are no rules (maybe by the Hawaiians) in how you turn the edges.
My thoughts are - thats a lot of freezer paper if you are doing a large quilt. Someone posted on the board they get large rolls of freezer paper rather than the smaller rolls.
You might also turn the edges under and baste before attaching to the quilt. Another thought I had in reading your post is to cut a strp of no melt plastic and use that as a guide for turning the edges while you press
But to get to the bottom point.....anyway you can conveniently and easily turn the edges is ok.