How would you create a corset style closure on a dress?

I'm about to finish making a sundress, however; I would prefer to use the lacing type of corset closure, rather than a zipper. I'm using a stretch-knit cotton with chiffon over it. Mostly, what I'm asking is how you would go about punching the holes in the fabric in order to apply the eyelet/grommet to it, and move from there. Or would this kind of fabric even really be able to be used with eyelets?