Problem was, the bright white light coming out of the flashlight was just too cold looking. And it's not easy hanging a flashlight from the ceiling.
Step 1: Hang the Flashlight
I then took some ~1/16inch steel welding rod and bent it into a large ring, duct taping the ends together.
I then made three equal lengths of twine, looping each of the ends around the screw and tying the other ends to the ring, each a third away from the other.
I then made another ring from some ~1/8inch steel rod by bending it around the handle of the flashlight.
I then suspended this ring below the first with three more equal lengths of twine.
Step 2: Diffuse the Light
Wrapped some cardboard around the bottom to make it sit nicely on the flashlight.
Step 3: Enjoy the Light
Actually lights the room quite well with a nice warm hue.