I recall you've moved towards slightly, well, I want to say "better" fitting, but let's just say "less tight" jackets. Have you considered seeing if you can let out some of your older ones a bit? That's usually a possibility.
Anyway, I see no good reason (if you are happy with the jacket) not to get pants made to make it a suit. It wouldn't be a blazer suit, mind you, but the fabric is excellent for a F/W suit.
That's far enough away from red that most everyone will be safe wearing it. I do think that those with ruddy complexions should avoid both jackets with a lot of red and pink shirts, but that jacket is definitely well into the browns.