Silver Horde makes the Xtractor which supposedly eliminates or greatly reduces flasher drag. The Xtractor is an in-line flasher that slides up and down the line. I have tried it however, I couldn't seem to get it to rotate. So I gave it away. Other than sizing down to a 8" flasher, I am afraid you not going to rid the flasher drag.

Another option is to run two downriggers... one side with the flasher(s) and the other with a single bait or lure..


On a final note, on fish 10# or larger, I don't notice flasher drag however, I feel the "wave."
I don't mind.....

Downriggin'
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"If you are not scratchin bottom, you ain't fishing deep enough!" -DR

Puget Sound Anglers, Gig Harbor Chapter