I went through my woodworking library to see if I could find something relative to this issue. The only thing I found was an idea for making a column mounted tool holder for a drill press. It was in "Time Life - The Art of Woodworking, Woodworking Machines". It was designed around two layers of 3/4" plywood with a collar that was drilled to fit around the drill press column. The trick was each layer was cut 90 degrees to each other to fit around the column. The two layers were then glued and screwed together while while the collar was around the column. The design idea was the resulting hole was snug enough not to easily slide up and down the drill press column. I would make the collar even thicker (like maybe four layers) and put a tab on the back side with a split in it. The tab could be drilled for a bolt/nut hole to allow you to clamp the whole assembly so it did not move. You wouldn't have a rack&pinion to raise and lower the table, though. The hard part is boring/cutting the holes for the column. If I had to make that cut, I'd use a router with a jig and a top mounted bearing bit to cut the hole in each layer.
I've gone out to find myself. If I return before I get back, have me wait for me.
"Sawdust is Man Glitter"