I think I've read where quite a few guys do this. I think it would be the same as any of the others. Just run them through your .264 Sizing die. May end up a little THICK in the neck.
Be sure to check with guys who have done this, I don't own a 7mm Mag or .264,(I want a .264 though). I have done it with 30-06 down to 25-06, and .308 down to .243.
Be sure and reduce your powder charge and check your lengths after forming. Work your loads up slowly. The down sizing reduces the brass into a smaller volume, Even backing off 25% on the powder charge from a normal load is suggested to eliminate any excessive pressures.
I have formed .308 win into 22-250. You should anneal the case mouth and shoulder after forming to keep the brass soft.