In order to keep the proportions of the lanterns in your Glow Happy quilt (which is adorable, btw), you would have to down-size every patch in the blocks, setting pieces and the borders. It's doable, but would take some time. Your "lanterns" are not squares, but 7 1/2 by 8 1/2 inch rectangles. You would have to start with 6 X 7" rectangles, if 7" are the largest squares you have to work with. I would draw a block out on graph paper at the size YOUR blocks would need to be and go from there. Be aware it's also going to change your yardages and the number of strips they tell you to cut for each fabric.
PM me and maybe I can put EQ7 to work on it.