Regular good old yellow glue will work fine, but, remember, the glue block is only going t be as strong as the top layer of veneer on the plywood, I'd put some screws into the glue block, that you will have your tenon on that will be held by the SN" chuck, counter sink the screws and predrill the holes too.
Good idea, BTW.
I bought one of the Beal wood taps, so I made up a block that is threaded that is glued and screwed to the plywood base of the donut chuck, that way my SN2 chuck is not off the table to use.
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.
William Arthur Ward