I have used this method often. In fact, it was the first way that I learned to bind a quilt as this was the only method my MIL used and she has made a lot of quilts. If it works for a queen sized quilt, it would certainly work for a wall hanging. I cut the backing to one inch larger than the quilt top. Fold it over and top stitch it on the front. This gives me a wider binding than some quilters prefer but I like it that width. You could cut it narrower but you want to make sure you have enough to tuck under well. I don't pin (except the corners) or measure but just tuck it under and eyeball it as I stitch and I've been pleased with the result. Unless you were a quilter, you would never know it was a "faux" quilt binding. By the time these bindings are showing a lot of wear, the whole quilt is too so this method would be just fine for your wall hanging which won't be washed nearly as frequently as my kids' quilts.