There's another thing tho - if cutting from one flat piece, like we make stacked bowls, if you make the base 1.5" diameter, rings 1/4" thick, and you stack the base and 4 rings to get to 2.5" tall, then the top diameter will be 1.5 + 4*.25*2 = 3.5" - wider than the 2.25" you're looking for.
To get the top to be 2.25", you need an angle of inverse tan(.375/2.5) = 8.5 degrees. That angle requires the rings to be cut to match the original equation - ring thickness = tan(8.5) * board thickness = 0.150 * 0.5 = 0.075" (5/64 inch). This is a very thin wall - too thin to cut and sand.
The way around this, if you still want to keep the 1.5" base and the 2.25" top, is to increase the board thickness (for a 2x4, thickness = 1.5" rather than 0.5"). Then the equation looks like ring thickness = tan(8.5) * 1.5 = 0.224" (7/32). Stack 2 rings to get 3" tall and the top will be 1.5 + 2*.224*2 = 2.4". Trim it to 2.5" tall and you'll have 2.25" top diameter.
If you can use extra wood - meaning the rings are not all cut from a single blank - then you can use the .5" thick blank, the 8.5 degree cut, make the rings .224" thick, and it should come close to your dimensions. Get 2 blanks 2.5x2.5x1/2" thick. On the 1st blank, Mark and Cut the 1st (top) ring with 2.25" OD and 7/32" thick at 8.5 degree angle. Move that top ring to the 2nd blank and use it to mark the outline of the 2nd ring (just hold it there and run your pencil around its inside and outside).Cut the 2nd ring, then put it on top of the center cutout from the 1st blank and mark the outline of the 3rd ring. Keep doing that, alternating from 1st blank to 2nd blank, until you have 4 rings, then use the lowest ring to mark the base.
I'll try to make a pattern tomorrow AM.
Sorry if this is confusing - you're trying to balance several dimensions and it gets tricky if you also try to make the concentric rings cut from a single piece of wood.