I agree with John – risky job. Brass likes a sharp cutter, and non-hardenable steels don’t hold an edge. And soft metal lilke mild-steel is likely to deform and jamb. Maybe make several taps and swap for a new one as soon as they don’t cut easily?
Rapid Metals charge £18 for 100mm of 40mm dia D2 cut to length. I’d buy some and harden it. I’ve had considerable success with home made taps for threading Aluminium and mild-steel. All below 20mm diameter, and never mission critical. Nor have I tried them on Brass. Main problem the way I make ’em, is getting a sharp edge and suitable relief. Not as good as bought items.
But, how much will it cost if a DIY tap jambs in the pipe, mangles the thread, or the pipe comes adrift? If more than the cost of a professionally made tap, then buy a tap. Dormer over £400, Presto £350. After the job is safely done, recoup some of the cost by selling the tap second-hand…
Be interested to hear what others say. My take is this is more about managing what happens if it goes wrong than making a cheap tap!
Dave