I was thinking about this topic again, as I was at a biz auction and there was an enormous rotary table for sale, must have been 4' diameter and probably 3x my mass. that would work for everything up to marching bass and tympani. Too bad I've seen entire shops that could fit into the space it did.
If I were to build a drum shell cutting jig from scratch right now, I'd probably set up an expanding plug that would fit in the drum cylinder. I'd have to play with the design a little bit, but I'd make a center post/spindle that has arms coming off of it, kind of like an expanding bore hone. Sizing of the spindle and arms would depend on the diameter of the drum shells of course. I think I'd go with screw posts for the arms rather than spring loaded, two sets of arms, three arms in each clamping area. This would allow both sides of the cut to be supported. Pressure pads of hardwood, backed with cork or rubber for grip. The spindle would then insert into a bearing post, possibly one for both sides. This, I guess you could call it a cradle, design would also possibly allow you to keep the drum shell on the spindle for other steps. Add a motor to it and ya might as well just call it a drum lathe. If you'd like me to draw up a sketch, lemme know. Might be good incentive to clean off my drafting table(or learn sketch up, lol).