Something that diameter has to be turned slower than you may think, even with carbide, because the SFM is going to be fairly high. In cases where I've had to take that much off a face plate I don't turn it off, I make a trepanning tool and part it off as one big chunk...it's a lot less of a mess and once you're all set up only takes a couple of minutes to complete. It's really nothing more than a parting blade with curved sides so you can plunge from the front. Use a fairly slow speed, get the tool really sharp and it'll slice through easily.