I frequently cut my own centering rings for odd sized tubes. For the 25mm hole to accommodate the motor and tube, carefully determine the center of your centering ring, drill a small hole at that point, then use a taper drill bit to widen the hole. I have found that hole saws are generally too coarse for use in rockets, and will just make a mess of the wood, whereas the tapered bits allow you to slowly and carefully widen a hole with much cleaner results. You'll likely still have to sand the edges of the center hole, but that's better than having your piece spontaneously rip in half because a tooth on the hole saw decided to bind. From there, use a jig saw or band saw to cut just a bit bigger than the ring, and then sand to the appropriate size. Make sure you use a good compass and ruler to get the hole centered in the ring, and to give you accurate edges of the ring to sand down to.
As for recovery, the booster pods will weigh more with motors in them, but I would think that the main parachute could still handle it all. If you tether the nose cones, you will get burn marks on the side of the main body when the boosters fire their ejection charges. If you fly with a club and they permit it, don't include any motor retention. You'll still want your thrust ring of course, but you could just eject the casings out the back. If ejecting the casings isn't an option, maybe setup a rear-ejection for the booster pods and make sure they are loaded with motors with longer delays than your core motor. That way, the motor mounts can pop out the back on a kevlar cord to vent the ejection pressure, but do so after the rocket is done with the thrust phase. It would really suck to pop the motor mounts out the back and have them dangle right into the core motor's flame and do who knows what all to the aerodynamics in the tail with them flopping around.