Sorry about that
So with a 2" bore I would suggest a single O ring of 1/8" nominal section which should be easy to find if you search for "BS224 0-ring" and would also suggest Viton as the material.
As there are no gaps in the rings like you get with CI rings there is no need to use two which will reduce friction and make it easier to get a nice slow tick over on just a few Psi pressure. Viton is more resistant to oils and solvents so little chance of it swelling and making the piston tight, don't use steam oil unless you are actually running on steam as at room temperatures even the "light" version is too thick and sticky.
Although this size ring has a nominal 1/8" section it actually measures 0.139" so to get a seal we need to squash it a bit but that will make it take on an oval shape so the groove needs to be wider to allow for this. The proven groove size for model use is one that is 0.132" deep and 0.160" wide, this is less than you will find on most manufacturers websites but that is because they are quoting for much higher pressures.
As for the piston, you could stay with the two part design and just cut the groove into one half in the form of a rebate which will be easier to cut and use the now plain other half to form the second side of the groove. Or as it will be easy to stretch the ring over the piston a single piece one 3/4" thick would do but I would make that out of aluminium to keep the weight down. Infact I would even do the two pat option from aluminium or if sticking with cast iron increase the hollowed out parts where the two inner faces meet. Reason to keep weight down is to get a smoother running engine as speed goes up as the No1 has no balance weights on the crankshaft
J