Face it, drill it, part it. The part should be accurate enough for a washer. If not, put it in the chuck and face it.
It's that last bit that confuses me. How do you hold that in the chuck and face it without hitting the chuck? The wax chuck seems like a reasonable option. I actually tried the super glue thing, takes too long to set. The shellac might be better, but it has a shelf life from what I'm reading. Guess I could buy the dry stuff and mix as needed. I ended up just parting off another one, but it made me think that I might want to do something like this in the future and I should probably figure out how.