Thanks Phoenix7
Now, little update.
I had adapter originally designed for Mustang rotor as described in first post and i had made and assembled that way. Everything did fit together, but it required too big spacer for wheels or different offset of wheels than what i had.
Then i came across Toyota RAV4 rotors, which are same bolt pattern, pretty much same size but deeper dish. Center hole in rotor has to be machined, no need for centering ring. Little bit machining of adapters, few spacers for calipers and shaving little meat of the knuckles to clear bolts and final product is here. Only 8 mm wheel spacer is now required and one of my sets of wheels clears it even without spacer...
I can make either version of adapter (for mustang or rav4 rotors).
In the end, it was bit more pain than what i tought it would be in beginning, but its definately doable and every other install will be just easier