Hi Kane,
I really would not want to spin that set up as any slight movement of the job would have the tools flying out at you. You would do well to wire them to the chuck somehow. Toolsteel is heavy!
The steps on the jaws are machined flat…and that is your problem. If you need that job truly square then this set up will only mirror the back face of the job on each cut and just give you a smaller version of what you have got already.
I have not done this particular job but the old books I have (Internet Archive is a wonderful resource for out of copyright books) state one way as using a faceplate and angleplate.
Mount the job on the angleplate true and cut the first side as you have it mounted now.
Use the cut face as a datum and mount to cut the next sides. Finally, cut the ends using the flat sides as data.
A second way, and one I would prefer, is mounting the job on a vertical slide or on the saddle and use a flycutter in the mandrel. Then take the same steps as above but mirror-imaged (the tool spins and the job is fixed), ending up with cutting the ends. This would also give you a better finish.
Ready to be shot down in flames…
Andy