Trying to mini-SWAP

I recently tried and (in my mind) failed while trying to create a jacket from Simplicity 4789

I realize that part of the frustration stemmed from not having the right size pattern and the pattern not having multiple cup sizes. So I got the correct size pattern (I have to use a 20, not an 18) during the last Simplicity sale at Joann's but haven't worked up the gumption to re-trace. I really am trying to avoid having to do a full-bust adjustment because... well because I'm a scaredy-lazy cat and because it takes me a looong time to complete each step. I could see that the armholes would be too tight and it was too tight across the bust. I love the collar style though.
To make myself feel better, I decided to make another version of Simplicity 3789(links to my review). For some reason, it was more difficult this time. Some of the fabric stretched while I was connecting the front side sections. Anyway, this second shirt is supposed to end up being part of an outfit. Here is the almost completed shirt with some coordinating fabric:
I added a tab with a button to the sleeves. Next time I'll add some piping to the tab edges to make it stand out more.
Now, my dilemma with the coordinating navy blue fabric is that I would love to be able to get a skirt AND a jacket out of it.
The prospect is a tad daunting since I need extra fabric to lengthen a skirt and lengthen the arms on a jacket. I have 4 yards of the navy blue, and it's 50-60 inches wide (lemme check)... Okay, just measured, it's 55 inches wide. So... after flipping through the patterns I have that include jackets, I settled on an out-of print one - New Look 6159.
I've made the A-line skirt from this pattern twice. For this ensemble, I'm going to use the straight skirt and just make do with a 3/4 sleeve jacket. Am I asking for trouble making a jacket out of something that is actually meant to be a fitted top??? Should I just use the fabric for the skirt and find something similar for a jacket using a real jacket pattern? I don't know... I guess we'll see. I'll start cutting the skirt once I've hemmed the top - which I guess will be tonight.