I'm not for mixing the red and white oak. Use one or the other. They are too similar to make much of a difference. If you want to use mostly red oak, then I'd suggest using maple instead of white oak (white oak is NOT white, BTW).
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Was thinking about coming out about 12"or so in red, shipped lapped,
I'm not sure what you mean here, ship lapped? I know that's a style of siding but I don't see how that would apply to describing flooring. Also, if you know the species of woods you want to use, by a little of each and mess around with loose laying some borders. Try out different layouts and such. Ya know what they say, "a picture is worth a thousand words".