Looks like some others have the same idea. But here is the sketch I came up with anyway.

cool idea thanks for sharing with us

How wide is the binding supposed to be on the quilt?

Those measurements don't seem right to me.

If you fold it in half after you've sewn the strips, you now have a 1 1/4" folded strip.

You can't really put that on, regardless of the desired binding width, and get a decent 2 sided binding as there is only 1/4" showing of the 2nd fabric.

Is the front supposed to be wider than the back binding?

great idea!

Great idea! I think I am going to try that one out. I haven't used two colors in a binding yet. :) Thanks