Need help to remove video "shimmering"

I'm looking for some help/advice to restore a feature film I made back in 1995. Short story is - feature was shot on 16mm. All film elements were lost over time. I found an SVHS edited master of the film a year ago. I'm working now to restore the film from the SVHS as best I can.

 

The issue I'm having is, how to remove flicker or a shimmering effect in solid or near solid colors. Here's an example - look at the orange BG behind the main actor.

 

 

Is there a plug-in or process I can apply to various clips to reduce or eliminate the color shimmering? I'm aware AE has something called Color Stabilizer. All my attempts to use the filter makes the video much worse. Curious if there's anything else out there? Thanks in advance!