Sometimes I love having a lathe! I bought a mini lathe at harbor freight a couple years ago to go with my mini-mill. I wanted to swap out the freewheel on my magic pie and the gold standard of bike tools (park) didn't have a large enough hole for the axle. I know that ebikes sells one that has a 3/4 drive hole in it, but I opted to pick up an $8 park and toss it in my lathe. Two minutes later...
I didn't bother with cutting oil - all I did was chuck in a bit on my drill chuck and ran it through the freewheel tool at low speed. It's a very safe operation on a lathe. I wouldn't want to try it on a drill press.

I didn't bother with cutting oil - all I did was chuck in a bit on my drill chuck and ran it through the freewheel tool at low speed. It's a very safe operation on a lathe. I wouldn't want to try it on a drill press.