Thanks for all the replies. I actually ordered the 23/32 Freud plywood bit, really good quality and sharp as all heck

it's maybe 1/64 or less too small but as most of you have said I think two passes is the right way to go.
Just need to decide on a jig or technique. I like this one a lot...
Jim Kirkpatrick said:
Don't waste your money on fancy bits that will never fit sheet to sheet.
John Lucas's tip works flawlessly.
just need to get a rail now. I was planning on getting one this weekend anyway so it's not a big deal to make that purchase.
-Jim