ekaterina_milan
Member
Select > Color Range and select everything red with the eyedropper tool (This might not work as well with other images)
Create a Curves adjustment layer using the selection you just made and use it to invert the colors by dragging the end points to their opposite position.
Adjust the brightness and contrast of the image by dragging the left endpoint down until the just the edges of the selected area blend into the surrounding image.
Create a new Curves adjustment layer using the same selection you made at the beginning and drag the endpoints toward the center from the left and right hand sides until the shadows and highlights reach the correct values.
Create a Selective Color adjustment layer and adjust the sliders for Red until the reddish cast is reduced and the affected pixels blend with the surrounding layer (this will take care of any red you missed with your selection too, it may not work as well on images that are supposed to have more red tones in them which would mean you need to mask the effect)
See the results in the image I posted. I did a quick and dirty job of it so you can take your time and do it much better than me.
Thank you so much for taking the time to guide me through the process!! It helps me a lot!!