The best tool for stripping these kind of cables is a thermal stripper. Look at PATCO. You will need two, one for PVC outer insulation and PTFE tool for the inner conductors...
great DIY Rachel!
however, ain't your 1/4"-20 screws which are actually working like grub screws holding the mic in place... shuddering because of what is happening to the contact space of the screws on the mic body....
-vin