What always worked for me was cold wash, delicate/hand wash cycle, with gentle cleanser like Woolite. But, for drying, I would lay flat. On a towel, spread out on a card table, or any flat surface. That way, air only reaches one side at a time, and it dries even slower. Shrinkage was never a real problem, because each morning and evening I would "stretch" it by running my hands over it like an iron. Have to turn it some, I usually did each day, and it takes longer to dry. But no clothing loss due to shrinkage.