converting CMYK image to multichannel (black + one spot color)
I guess my first question is this: Can I attach a .PSD file to this question? Or just an image?
Here's my issue: I'm doing the design for a literary magazine's anniversary issue and have never been formally trained. Here's my panic: We started out thinking this book would be four color and therefore used CMYK color profile. But now it's black with one spot color, so I have to convert all the images to Multichannel mode and, according to the printer, I should have two channels only: black and the pantone spot color (in this case, Pantone Warm Red C).
So here's the favor I'm asking for: Can someone give me the basic 1-2-3 steps they would to follow to change the PSD file for this image from CMYK to Multichannel black + Pantone Warm Red C? I'm having so much trouble with this. I've been researching and experimenting, but I'm quite confused about layers, transparency, overlays, all that. The CMYK color mode file has two layers: a vector silhouette (the woman) with an image overlay (the pattern fill). I know how to change to multichannel mode, and I'm able to add a new spot channel, but it just isn't working right. When the layers all merge together, I'm stuck with either a solid red background and don't know how to make it be an overlay over the vector silhouette or it won't show the red at all. Either way, and I lose the transparency, even when I save the file as DCS 2.0. I asked the printer for guidance several days ago, but they haven't responded.
I know it's the day before Thanksgiving, but if someone could just give me the steps they would follow to change this CMYK file to a multichannel file with black + one spot color and still maintain the transparency, overlay, etc., I'd be most grateful. Basically, how do I make it look like this original image using only two channels?
I'm really stuck here, much thanks. I'll attach the .PSD file, too, if someone can tell me how -- didn't see an option for that in the toolbar.

