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Sander
:cool: I've made a few wheels. First I cut out a rough circle on my bandsaw and drill the right size hole in the center. Then I put a bolt through the hole that also goes through a block of wood. This block of wood has a kind of stop on it. Lastly I slowly spin the wheel on the bolt and feed it into a disk sander. For a final step I may use a 1/4" round over router bit to put a nice edge on the wheels.:)
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A router will also do it
If you fix the workpiece to a sacrifice piece of plywood, you can make it with a router quite easily-