Aluminum mill/turning thickness

I have machined aluminum parts down to .015 wall thickness. Some factors are: machine in good condition, good bearings, proper lubrication, properly set up machine, etc. Your material must always be supported or backed up so that the cutter does not push it away. This may be done by a variety of methods depending on your application. If you are going to cut thin walled parts use only good quality NEW cutters. Use cutter shapes that apply the least amount of surface area to the material. Example It is better to use a cutter with a sharp corner than one with a radius if possible.

For the part you have described, drill the hole undersize first then bore it to maintain concentricity. Then support the inside diameter with a pin that fits the hole, not a press fit but close. You should then be able to turn the outside diameter with no problem.

What is the overall length ? The thicknesses are not a problem as long as things don't start to wobble. I would advise using a tailstock and turning it dry.

drill hole undersized, ream hole to desired size.

GD&T call outs will dictate how efficiently ops can be completed. the previous posters offer good advice if nothing special (GD&T) reqd.