I think what you are looking for is basically akin to an outside case neck turning tool, but instead designed for cutting steel. I do not know of one intended for that purpose. That said, I don't see a reason why a case neck turning tool with a custom bore-sized pilot couldn't do the job? It would be very slow going. I would look at the K&M tool, because it has a microadjustment system that would let you take down 0.0001" (.00254 mm) at a pass, which is what you will want to do. I don't know how far you want to cut back from the muzzle, so I don't know whether the throat or adjustment range of this tool will be deep enough? Call K&M and ask whether they think their tool could do what you want? (717) 292-3175.
Nick
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