Can I Create A Skip Frame Effect In Premiere Pro?

Try the Posterize Time effect. The Posterize Time effect locks a layer to a specific frame rate. The only other time effect is the Echo effect in Premiere Pro. It combines frames from different times in a layer. After Effects has more time effects though I think the Poster Time effect will work fine.

Silent movies were hand-cranked, and the "target" speed was somewhere between 16 and 26 fps. Show a film shot mostly say around 18fps at 18fps, it's quite smooth. Show it at 24fps, and of course ... it's over-cranked in the old lexicon. Fast and jerky. Keep the frames in their appropriate 'second' by doubling frames now & then, it's pretty smooth with occasional hints of lurch.

I think removing one of every 4 frames will get pretty close to an 18fps frame-count, so I can see why Avid has that effect. it would be slightly less "smooth" than if it had just been at 18fps due to that missing frame which will cause a cyclical "jump", but in all should be pretty close.

But I can't recall a specific frame-dropping effect in PrPro ... and I'm hoping someone else has this covered, I'd love to learn.

Neil