Can I add panels to a dress to fill out the bottom?

Ok so I decided I am making my dress for my 22nd birthday this year!! I went to goodwill and found this long sleeved green velvet dress that is about knee length. I am going to transform it into a retro style halter with a sweetheart neckline. The dress is pretty big on me so I will have a lot of fabric to work with but the whole dress is pretty a-line. I was wondering if there was a way to possibly sew panels into the skirt to give the illusion of a circle skirt and to give it more volume on the bottom?? Please write with any info or any tips you may have!! It would be greatly appreciated!!

Thank you!!!

Britainy!!