Hi Dave. When I needed to turn a large disk. I used a right hand boring bar, mounted at the back of the 4 way tool post with the cutting edge facing forward. That way I gained extra distance, using standard parts.
HTH
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While challenging, you can probably do it on the 7 inch lathe.? Getting the cutting tool out that far will be a bigger challenge than just holding it.
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Superglue can be a legitimate method for work holding.? Is this a solid flywheel?? If not and it has, or will have, some spokes or similar feature you may be able to hold it by bolting through openings with perhaps a little fixturing (little pieces of plate to act as big washers).
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You can always try on the small lathe.? And if it doesn't work out, then find something larger.
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Usually the "swing" of a lathe is not really a practical diameter to machine, but more as a dimension for something that large on which you are machining a much small feature.? But machine a disk is possible.? I machined a 16 inch disk on my 12x36 lathe but it had a gap bed permitting an 18 inch swing.? And I have machined a 6 inch diameter disk on my 7x16 MicroMark and then made a cut to make it a donut (to ultimately be curved trim pieces for a project), but it was wood, so I don't think that counts.
