At one time "consist in" and "consist of" had just about the same meaning, however modern usage is as follows:
consist in doing something.......to have something as the most important aspect or the only aspect
-A way to solve this problem consists in defining the parameters.
-My job consists in handing out brochures all day.
consist of doing something.....to be made up of parts or things
-A way to solve this problem consists of defining the parameters and applying them to the real world.
-My job consists of standing on the street, smiling, and handing out brochures.
If you make a mistake, it is not a big problem because most people are used to reading both versions.