On a manual lathe, I would split the part in 3, the 2 flanges and the mid portion. I would connect them using a press fit or a sloppy fit and glue them together using epoxy, or soft soldering using 3% silver solder (available in a general hardware store), or screw them together using a small pitch thread.Thanks Hubb--I should have mentioned I'm limited to a manual lathe, but it's interesting to hear how you would approach this part with CNC.
-Mike
I am puzzled about the design,
The big key suggest it has to transmit a lot of torque but a smooth surface can't transfer a lot of torque. May be you could "lock the part"on the shaft by just pressing 2 o-rings together in the inner (large) boring.