Sure, Here is an example.
For a bore size of 1.35" we want an uncompressed gap of about .140". (scale that proportionally to whatever bore size you are working with)
Find the circumference of 1.35= 4.241" +.140" gap which is 4.381". Convert to diameter =1.395. This is the od to turn the ring to.
Bore the center, assuming a .060 ring = 1.275 ID. part off at whatever thickness is desired (lets say .040-.050).
Place the ring between 2 pieces of aluminum (or whatever you desire) in the mill vise to support what will become the ends, and mill out the .140 gap with a small end mill. You could probably use a slitting saw instead if you wish.
File the ends to whatever installed gap is needed.