So. I chopped the length!
First, I put the skirt on and marked the length I wanted - in this case, knee length.
I measured the mark, and then marked the skirt at that length all the way across.
Give it the snip!
Then I busted out the iron and made a nice flat new hem.
The new hem was sewn up with color-matching thread, and that was that. A new skirt, in only about 20 minutes.
This length is much better. It's good for warm weather, but I think it'll be great in winter as well, paired with leggings.