i do this all the time.
i attach my binding to the front the normal way to have mitered corners.
then i fold it over to the back and use elmers school glue to tack it in place on the back (sharon schamber method).
then i stitch in the ditch on the front. i don't use a stitch in the ditch foot. i do a much better job with an open toe foot because i can see everything.
i've tried the sewing to the back and doing the decorative stitch on the front and i don't care for that look at all.