For years I've been after a drill press rosette cutter. LMI used to make them but not any more. Ken Tims made a great one for his ukes you can see here. He uses sharpened drill bits I think for the cutters.
Any toolmaker or precision engineering shop should be able to make one up.
What is the size of those carbide cutters? Once you go under about 6mm the price will start going back up!