Take a look at this edit here. It's quick, and probably too blue... but:

(be sure to click the preview for CM version)
I won't go into specifics on how I handled saturation since the tools I used aren't available in Photoshop, but they can be managed using hue/sat. I will point out a few things that I think would help.
In the original, the skin saturation ranged from 35% - 40% in the hilights and 65% - 95%(!) in the shadows. This means that in the shadows, their skin tone has more saturation as their dresses!
The big adjustment I made was was using the Channel Mixer. I chose the channel mixer because the two dresses while having blown detail in at least one channel, at least one channel also had detail. The setting I used was a global 60, 50, -20, greyscale conversion and placed on luminance mode. If I were doing this, I may want to address each dress separately and mask. Certainly I'd mask the dresses in away from the skin.
because in RGB tone and saturation are intrinsic, when dealing with color sensitive adjustments, I will often apply tonal adjustment layers on "luminance" mode and if necessary copy the adjustment and apply in "saturation" mode, this allows me to to kind of decouple the two properties and adjust them independently using opacity, that way I don't get into weird saturation issues when increasing contrast resulting in the "orange skin syndrome". You can even adjust the curves separately to adjust if the shadows are too saturated relative to the other regions.
Overall though, I do think the skin is a bit too "rich" even having adjusted saturation, and addressed this with a very slight curve adjustment to the mid-highs, bringing down blue by a few points and very slightly pulling red. A little bit goes a long way with skintone.
Lastly, I think one thing would really help is to remove the warm cast in the background. This will further provide depth to the image as the eye perceives higher saturation and warmer colors as foreground.
Obviously if this were my image I'd take more time masking and fine tuning. But I do really think it's too punchy. As you can see you can still there is plenty of room for rich, bold colors, and I know that this image really deserves it. But this ought not be at the expense of detail, or such that it distracts the eye away from the women and onto the brightly colored dresses.
Oh - and you are shooting raw, right?