I machined some honeycomb a couple years ago that was 3.5" thick. It had 1/2" thick plywood for the skins. I purchased a 1/2" bit with 4" cutting length from a local supplier. I cut in two passes (about 1/2 way for each pass if I remember straight. It cut fine but was very loud because of the vibration from the top skin. I attached a pic of the material we were cutting. the ends have already been blocked to conceal the honey comb. This was used for decking on a boat for a museum project we worked on. If I can find the file I might be able to give you some feeds and speeds we used, but I probably adjusted it at the control while cutting. I usually do this for new materials I haven't cut before.