Since it will be turned slowly I was considering this experiment, useing a half inch piece of pvc for the center, and spinning around it the foam that they use for weather stripping, the one side has the adhesive on it, and although I could get larger dimensioned foam, I was thinking of useing 1/4 inch by 1/4 inch, running up two concentric spirals, then putting overlapping pieces over this until I got the outside diameter that I wanted, once it is to the right size, I would coat the whole thing with epoxy, or possibly the stuff that made clackers, which I've got the recipe somewhere around here, for those who don't remember clackers they are two pretty unbreakable glass balls that were on strings, and by smacking them together they would do a pedulum type of movement, I guess it shows my age.
The center piece will be filled with a hardener, and capped so I wouldn't need a bearing at the top just a guidance pin inserted in the hole collar, the bottom would be set with axil and gear.