Here is a goal: How do you hollow out the wood for a beer koozie?

How would you accomplish this goal?
To hollow out the blank it needs to be mounted it in a chuck. Cut a tenon on the end of the blank with the square tool and then under cut it into a dovetail to match the chuck. Take the blank off the lathe and installed the chuck on the headstock and put the dovetailed tenon into the chuck and locked it down.