I have recently been doing lot of work on small, flat sided cranks, 2" length. I bought a 1/8" radius round over router bit for the job. I built a small platform that fitted the router bit and gave good stability to the wood blanks and it worked perfectly, with no snagging or tearing. I was very happy with the result.
Still, it is not good having your fingers so close to the cutter and I will be making some sort of holder, like many that have been published here on TU, it is just that my first attempt at such a device did not work. When I return to Indonesia and get back to my shop, the holder is the first job on my list.
Dave