Might of hit the jackpot here?

Ok this idea might work but only one way ie those who have a lathe or worked on one will know what I'mon about,the chuck jaws are twofold position one way for holding small diameter rod,the other way for holding larger diameter rod or wokpiece.

Using the jaws in the larger format,lets supposing I aquire a lentgh of ally bar the diameter of the lathe spindle bore,cut a 3" piece of the bar,dilled a hole in the center of the bar and then tapped a thread in the drilled hole.


Now then this is the nagging part but can be done as and when one is needed of these disc are needed.

Take a piece of alluminium square 2"x2" plate,scribe a line from one coner to the othe diagonally and the same on the other two corners,in otherwords X marks the spot in this case dead center of the 2b2 square.
Using this center point I use a compass to draw a circle so that it coincides with the edge of the square,cut out the cicle with tin snips? drill a hole the same size as the hole previously drilled in the aluminium bar,screw this disc to the aluminium bar with a countersunk screw,feed bar into chuck spindle and make sure its snug fit.

Take a piece of Aluminium rod thats 2" in diameter that I want to ream/down size?
position it level with the disc we just made up and popped intothe spindle,tighten the jaws up and thats it.

Like I said a disc can be cut and drilled as and when we need it and the same spindle rod can be used all the time.

What do the experts think?