The other thing that I am considering is to make what I am calling an adapter that would have internal 1 1/2 x 8 tpi to fit on the spindle and 2 3/8 x 8 tpi to fit the backing plate of the new chuck. I have material on hand that I can use to make this. The adapter would look like this.
View attachment 307412
After screwing it into the backing plate I would face it off to be exactly flush with the back of the backing plate. I would use loctite to keep the adapter to attached to the backing plate. Would this work?