can i hot soak my pair of N&F's for an hour to shrink them a bit?

i've had them for about 3 months without washing, and i haven't been wearing them for the past month, what i mean is.. they aren't completely broken into yet.. they aren't honeycomb'd a lot. is this okay to do? i mean i just want to shrink them.. i'm thinking hot soaking them inside out would be better for minimal dye loss? am i just an idiot?

so let me sum this up for you to understand a bit better....

1. i want to hot soak them and shrink them (with minimal dye loss)
2. throw them in the dryer
3. spray starch on the knees, etc.

BUT MOST IMPORTANTLY I STILL WANT TO BE ABLE TO BREAK THEM IN after shrinking them (without ruining them), what is the best way to do this?