Sleeveless stretch classic button-down shirt

Purchased this in a 00 (5'3, ~100 pounds), which is my usual size in JCF. It runs really large and there's excess fabric everywhere. Also, the sky blue is darker than in depicted. I would like it if it was more fitted, but the cut is just not flattering.

I ordered a size 2 in this shirt (I'm 5'4" and 120 lbs) and when I tried it on, it came to mid-thigh, which seemed surprisingly long. I'm exchanging it for a smaller size because I like the cut and fabric quality, so I hope it works out.