I've tryed this with a complete machine shop its impossible. Don't bother trying. I have 21 year and my father has 42 years machine shop experience and nether of us could do it.
Sounds like a challenge
No honestly, I have no idea on how to do it, but a casette alone has a rather large internal diameter, I'm sure you can mount that (making an adaptor of some sort) rather easily to a keyed shaft.
The thing is, it'd be rather difficult to mount the derailleur to it,
not designing a completely new one.
But I wouldn't necessarily say it's impossible, but it's impractical for sure
'sid
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EDIT]
Well.. a casette and a derailleur on a tricycle rear axle:

and another one (electric conversion)
And although those don't look like a 3/4" much less a 1" axle.. it's still very likely possible to achieve that
