I did mine backwards, and drilled out a bit of the stud, and glued the top of the screw (the head) into it, making it the top, and used a nut on the underside to do the connection.
I also only did that on the side with the cape. there is a grommet that the screw goes through, and its sandwiched between the collar and back plate.
on the side that opens, I glued down the studs and it opens with velcro, so i can actually suit up with very little help other than someone helping get my belts down tight.