I doubt LPGA players could hold some of the greens with the lower flights and less backspin than the men.
I disagree. A bunch of old guys play the course most of the time. The greens are very receptive if you hit it to the right spot, plus they could slow the greens down a bit for the ladies if necessary.
I bet if you went back and looked at the Masters winners over the years you would find the winner was generally one of the people who hit their irons the most accurately that year. Sure putting and short game are important, but if you don't place your approach shots good luck making putts.
Move the ladies up to the member tees, slow the greens a bit and they would shoot well under par.