You are tempting me Tink! 
Lets think now......
Hmmmm.... I could turn a cable drum thing and mount it on the outer end of the spindle and run a cable from there to the carriage, then I could put the spindle in neutral, select a modest feed rate, put some wood in the chuck and one of my routers on the cross slide (I think my lathe could handle even the half inch router), then start her up! The lathe motor would drive the feed screw via the selected ratios which would move the carriage which would pull the cable which would turn the drum which would slowly rotate the lathe spindle! Hmmmmmmmm
By Jove John, I think you got it.

But, why wood? Use a end mill and just think what brass would look like with those designs.

You could inlay the grooves with anodized aluminum any color, endless combinations of metals.

I gotta go to bed. Long day tomorrow getting ready for Friday night lights.