Keep your eyes out for one of these. It requires a drill press.
This is the most dangerous tool you will ever use. Sometimes I claim the most dangerous tool is a router - but this is the one that will get you. When you are using it there will be chips and dust everywhere.
If you have a nice drill press you will have set it to slow speed.
That is what fools you. You think you are fast enough to reach in and brush away debris. You are not fast enough. Something to do with tangent velocity : V= R * omega
The advantage of this tool is you can cut lathe bits to the shape you need. This picture is for cutting the lightening holes in the spar web.
What I think I would have prefered to do was cut my mdf forms with a different shaped bit. You can make a die to press the flange in and also the mdf form to receive the die with the correct spring back.

mdf form
These holes are cut with above tool. What I would have done differently is made a lathe bit to cut a 55 degree?? recess for forming lightening hole flange.
This picture shows that I used a router bit. Router bits only come in 45 degrees. 2024 aluminum has an 11 degree spring back.
I only use 1 inch mdf not 3/4 mdf. The thicker mdf allows for cutting a flange on both sides to make right and left versions of ribs.
If you can not find 1 inch material then others have suggested going to Lowes and gluing two 3/4 mdf blanks together. Home Depot mdf is not very good.
Lowes Is a little better. A cabinet shop will have the good stuff form making counter tops.
Like many builders I used a press
Instead of those expensive pieces of rubber I would have made a mdf die with the matching shape to the above form. It would have required a different shaped lathe bit.
If you have access to a wood lathe you would make the plug (die) on the wood lathe. You would also incorporate the correct bend angle.
If you get Eric Newtons manual, (page 13 of the wing manual) then you will see he used plugs presumably made on a lathe. You would not actually need a wood lathe, just a grinder to make the correct
shape lathe bit.