Hi AAR - annealing will reduce the press loads but not wrinkling. It could make the wrinkling worse depends on a few things. The shrinkage in the flange is the same no matter what you do unless you use a double acting press. The fastest way to make this would be to metal spin it then cut the flat off. If you have a lathe you could make the timber buck and a timber former and have a go. Do some research on spinning. Peter