I had a good look at this. By the time you buy the parts you could have bought a spinner. Add the cost of freight as labour time for the time you'd have to frig around with it and it's about square. Unless you're particularly handy with metal and electrics.
For a personal use spinner, a Donkee is good. They can overheat and shut off if you give them a good work out, so use them as they're designed and invest in a small electric fan to blow on the motor in summer. (This works fine for a friend of mine with his.) Jayhawk and Innovative Bowling make excellent machines in the next tier up. All metal construction and higher grade bearings - marine grade for the Innovative job.
I've got the Innovative Bowling 240V model for the pro shop. It's a great professional grade machine. Speaking of which, make sure you get a 240V machine, as a transformer for that sort of load (1/3-1/2 HP)isn't cheap to buy or run. Another point - see if your supplier will send it US Air mail - takes two days longer and saves a bunch.