For a one-off it's probably best to mill a (round bottom) slot and file out the rest - a little labor intensive, but not prohibitively.
GsT
I like that. Get rid of the hose clamp and it's pretty much a rifling cutter.Here's a tool I used to broach a gear. The major diameter is the diameter of the bore, so deflection was not an issue. There is is set-screw through the shaft under the the HSS cutter to push it out as the cut progresses. I used the carriage to push it, it was hard work. Probably would have been better with the tailstock.
I've since bought a set of broaches and 3-ton arbor press, haven't needed them since.
GsT