The Gradient would look something like this, on the left is the tweaked material, on the right the default. Mostly it comes down to setting Gradient Type to Mapped. You can have as many points in the gradient as you like, I just used an extra solid black and solid white to be able to move those around and adjust where the clamping points were.
Yes indeed, a curve in the color correct would do it too, equalize in there would be an instant set up that can still be tweaked with the points on the curve, in the same way as tweaking with points in the gradient ramp. Quick example also attached.
Whichever you prefer or find the most natural and easiest to control. The only thing I can think of off the top of my head is that with the Gradient Ramp, you could add extra noise; and that Gradient Ramp doesn't have to be just black and white, you can map it to any colors you like. You may also need to desaturate with the Curves (as I did in this example) as it might emphasize any particular color tint present in the original image.
