I'm thinking you could make a single large center square out of the corduroy on point (cutting so the pattern runs as you like it) with corner triangles of the red fleece. In other words, one big square in a square. Instead of cutting the big square first, I would draw a square on the fabric using a Sharpie permanent marker and then piece the corner triangles onto the corduroy using the lines as "virtual" cut lines. This should help prevent stretching of the bias.