Higgite, correct, basically a hollowed out end mill with a 3/16" ID. As long as it fits into one of my 2MT collects then I'm good.
The reason why I want to go tjhis approach is because it is so much quicker and easier while the pieces are set up for drilling, to just change the chuck with a collect/hollow end mill and perform the outr diameter cut.
The piece picture is made with five others all on the same piece of bar. I make all the hole cuts, taps and all and then I just cut them to separate them and they're done.
Boring and all the other suggestions I really don't understand, but they sound like a lot more set up than what should be needed.
Let me rephrase the original question.
Can an end mill, say a 3/8" or 1/2" end mill be hollowed out to have a 3/16" ID without destroying the end of the end mill bit sharpness?
If so, maybe I could pay somebody to just make me one of these.
Lastly, the depth of cut I need is only .60".