The key to printing with solvent ink in any situation is getting the solvent to dry. And always that's going to come down to how much ink the media can handle, and how quickly.
In the case of Nikkalite, the bottom line answer is, "Not very much, not very fast."
To get a good red out of Nikkalite, basically what you need to do is everything you can to slow the machine way down, use the most passes you can, and the smallest dot size available to you. That should wind up on a Mutoh being 1440x1440, which will not be multi-dot, and at least 16 pass.
However it will be enough dots that you can set your individual ink limits high enough to get all the color this machine's got to give on this media. If you don't want to run this slow, don't use this material. That's the end of this story.
Also, if I'm remembering correctly, in Flexi in Mutoh drivers, the "High Ink" setting switches to a larger dot size, so you definitely do not want to use it.
Also note that in profiling reflective, the more robust the linearization routing allowed by the RIP, the better results you'll get. Flexi is very non-robust, so unfortunately you do have that working against you.
I got it to work when I changed the rendering intents for vectors to "'no color correction". That made a huge difference and now the colors are much closer to Pantone matches.
Just note that that's absolutely the way you do not want to run. If it's working for you, it only means where you currently are isn't where you need to be for optimum results.