Cutting gears - CNC vs laser

[routercnc]

Wonder if you had a CNC with 4th axis (i.e stepper driving a horizontal chuck bolted to the bed) and created a form tool to go in the CNC collet you could do it?

Or a manual dividing head for that matter.

So work piece is a round blank, 10mm thick, but held vertically say on a mandrel. CNC machine a valley between 2 teeth at the 12 o'clock position above the work using the form tool, then index the work around one tooth worth and continue until all teeth are cut? Then you are only reaching in by the depth of the tooth and not the width.

Or come in at the 3 o'clock position with a sideways form tool?

More ideas here [08:17]
https://www.youtube.com/watch?v=3wd8wE_VxPo

You could stack up a few parts and cut them all at once, maybe using a tailstock for support?