Here's how you can to!
Start with a pretty piece silk or polyester measuring at least 22" square. I used a head scarf purchased from my local thrift. Slippery fabric will allow your head to slide on the pillow while your sleeping. Flannel or cotton, while warm and cozy, are not good choices for this project.
Because I did not have a dinner plate large enough, I used my rotary cutter to freehand a 22" circle. I folded it into quarters and eye-balled it. A bit of measuring and trimming with the shears got me pretty close to good enough. Being made of polyester, I was able to melt the edges of the fabric using a candle, thus avoiding a tricky curved hem. If you can't melt the edges, I would suggest either a rolled hem as tiny as you can manage or some soft seam binding. You need the edge to be soft and flexible.
I used 3/4" lace seam binding as the casing for the elastic. Set the lace 3" in from the edge and pin. Sew the outer edge of the lace first. Ease both the fabric and the lace as you work your way around the circle.
Finally, using a safety pin attached to a 22" piece of elastic (the magic number here), thread the elastic through the casing. Pin both ends securely and try on to adjust the fit. Sew the elastic and close up the opening in the lace by hand.
And here's the big reveal! A perfectly flouncy, ridiculously moppy cap
for keeping your pins in place and your head warm!
There's enough room in there to house a serious amount of pins and rollers.
And now I shall feign sleepiness as an excuse to go try this out. Most likely it will end up being ripped off my head and tossed onto the floor, much like the fate of the rollers in my hair. But what the heck, it's perfect for answering the door and stunning the neighbors speechless. Or the Mister, for that matter.