Not sure if you have tried this yet, but if not, Call Avenida Art Gallery. Last time I purchased something from there I asked about the Jersey Framing, they showed me a couple of examples and they looked fantastic.
Can't remember the pricing exactly but if I recall it can be done for around $300-$350. Don't quote me on that though
I'm actually finishing my basement right now and have plans to get my signed flames and Hitmen Jerseys framed, so I might just head over there myself this weekend and see what it will cost.
Being an Art Gallery, I'd say they could do a fine job framing, probably better than Michaels and a little cheaper too.
Check it out...
http://www.avenidagalleries.com/Exam...f_Our_Work.asp
Don't mind the Gretzky Jersey

, as you can see, they do a really neat shadow box type of framing, so you can still get access to the jersey if you want.