In this paper we investigate the structure of flip graphs on non-crossing perfect matchings in the plane. Specifically, consider all non-crossing straight-line perfect matchings on a set of $2n$ points that are placed equidistantly on the unit circle. A flip operation on such a matching replaces two matching edges that span an empty quadrilateral with the other two edges of the quadrilateral, and the flip is called centered if the quadrilateral contains the center of the unit circle. The graph $\mathcal{G}_n$ has those matchings as vertices, and an edge between any two matchings that differ in a flip, and it is known to have many interesting properties. In this paper we focus on the spanning subgraph $\mathcal{H}_n$ of $\mathcal{G}_n$ obtained by taking all edges that correspond to centered flips, omitting edges that correspond to non-centered flips. We show that the graph $\mathcal{H}_n$ is connected for odd $n$, but has exponentially many small connected components for even $n$, which we characterize and count via Catalan and generalized Narayana numbers. For odd $n$, we also prove that the diameter of $\mathcal{H}_n$ is linear in $n$. Furthermore, we determine the minimum and maximum degree of $\mathcal{H}_n$ for all $n$, and characterize and count the corresponding vertices. Our results imply the non-existence of certain rainbow cycles in $\mathcal{G}_n$, and they resolve several open questions and conjectures raised in a recent paper by Felsner, Kleist, Mütze, and Sering.