OK, here's my try. There may be some variation of what I did that you might like.
1. Black & White adustment layer - Boost red to smooth out skin tone
2. Levels adjustment to correct overly bright from boosting red and to clip dark end for more contrast.
3. Duplicate background layer and move to top, blur just to the point where wrinkles are not visible, set blending mode to color to recolor the B&W
4. (Optional) Despeckle and smart sharpen
This does give it that hand tinted feel which I'm not sure your going for.
