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Get your base ready, by doing this we are going to to sharpen by using the Unsharp Mask set the settings as follows:
Amount- 70%
Radius- 4.5 pixels
Threshold - 0 levels

Duplicate your base, set it to screen.

Add a new layer, fill it with, #FFF1D2, set it to multiply
Add another new layer, fill it with, #222F55, set to exclusion
Add another layer, fill with #DFDFDF, set to colour burn

New Adjustment Layer, Selective Colour -
reds:   -100   +28   +15   0
Yellows:   -100   +100   0   0
Cyans:   0   -100   -100   +100
Blues:   +93   +100   -43   0
Magentas:   0   +100   0   +100
Neutrals:   +11   +4   +8   0

New Adjustment layer, Colour Balance -
Midtones:   -36   -3   +13
Shadows:   +11   +1   0

Duplicate your base, bring to top, set to screen 60%

New Adjustment layer, Hue/Saturation -
Master Saturation: Fiddle with your own settings, it depends how you like it.

Flatten and your done.

I'd love to see what you come up with  = )

You can also view this Icon tutorial along with my others here at wonderingifonly