The one thing that I see happening if you do it this way is that you will only have one layer of fringe (your top layer). If you want a more fringed effect you need to have your backing fringed on the top as well and for even more fringing I have used flannel as my middle layer too and brought all three layers to the front to snip and therefore fringe
Three layers of fabric (cotton, flannel, flannel)
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