ehh I just think using a tool like that you are asking for trouble I think in theory the x-carve could do it but your asking for trouble. plus it will take forever to cut your going to turn a 45 minute job into 3 hours trying to step down at .040" or less and then mill out pockets for chip evacuation
longest tool I have used in wood on the x-carve was a 1.25" tool cutting 1.125" material and once it gets down to around .5" your fighting the chip evacuation situation all the way down to final depth
I remeber when I was doing that project I would have been time and money ahead just cutting the top side at .107" doc down to .75" aka 7 passes
and then flipping the stock (about 20 seconds)
and then cutting on the bottom side the same way
if you set up your reference you will have a clean edge without any wasted time and material
also if you are finding your having issues with chip evacuation use compressed air to follow the tool and blow the chips out