Hi,
Welcome to the forum desmo11225.
When it comes to asking for help regarding electrical items there are so many regulations now in place here in the UK that even electricians are scared to offer advice. I'm not an electrician but I've done lots of electrical work over the last 50 years.
I used to own a Startrite combination woodworker with five functions it having 3 motors all 3hp on three phase the thicknesser was 10"; it was scrap when I bought it so I completely rebuilt it dumping the flimsy power feed to the thicknesser and installing a seperate motor with chain.
I rigged the electrics up to run from our 240V supply using a single run and single start capacitor; all the motors were identical. Running a machine like this the machine is definitely not on full power but I ran this machine for over ten years without the slightest problem.
Above is a picture of the combination machine thicknessing oak whilst running on single phase 240V; please note the additional modification the motor and chain drive to the thicknesser.
Above is my home made saw bench single phase 240V; at 4hp it proved too much for the standard mcb tripping this at power up so I installed a "C" type breaker and no problems now.
Above are two pictures of something I would definitely NOT RECOMMEND this is a 75kg 3 phase scrap welding transformer which I rewound using conduit wire; I used to own and detest a Transwave 7.5kw static converter this home made 3 phase supply was wound for 415V and it supplied full power unlike the Transwave which struggled with starting anything under load.
If you have the original 3 phase motor on your thicknesser have a look at the nameplate details; you'll need to know FLA (Full load amps) speed and horsepower; I think your machine given it's 12" capacity will be running a motor at 4 HP. I'm sorry that I won't go into detail as to how to run this from single phase but I'm just letting you know it can be done so time to call in a sparky?
I don't like static converters.
Another option if you have the 3 phase motor is to buy a VFD (variable frequency drive known also as an inverter) this would run your machine but these VFD's don't like lots of dust; it would give full power and also variable speed; another job though for a sparky?
https://www.ebay.co.uk/itm/NEW-3KW-...3:g:Zx0AAOSwWD1Zrjvw:rk:2:pf:1&frcectupt=true
I've got one of these excellent VFD's mine being a 2.2kw (3hp) but I'm running both my Graduate woodturning lathe and Lorch metal lathe from this one VFD; I've added identical 1.1kw motors to the lathes with switching allowing just one lathe at a time to run; the VFD can be adjusted to run the smaller motors and I've owned it for years in fact I might buy another just as a slave VFD for running any machine I decide to buy or build.
Now for the easiest option; buy a secondhand 4 hp single phase motor; if you're in the UK this will be 240V also a suitable new DOL (direct on line) starter unless you are proficient all the above is highly dangerous and not only can kill it will kill taking no prisoners so DO NOT TAKE RISKS GET A SPARKY IN; very very few sparkies will know how to wind a big transformer like mine?
I worked at Brook Motors for 24 years but in distribution; the sparkies there wouldn't offer information or advice so I learned the hard way with lots of research before touching anything. A simple mistake with electrics could be the last mistake ever made.
I hope the above is of interest and as I say I'm definitely not an electrician; the only electrical training I ever received was by The National Coal Board at their Crigglestone Training Centre where I was an apprentice mechanical engineer; I got so far ahead on my course I completed it very quickly it being a 6 month training course; I was quietly allowed home at dinner time but in the mornings I would be nosy and wander over to the electrical training where I was instructed on the safe installation of 3 phase electric motors; I'm a quick and nosy learner but personal safety and safety of others is paramount to me.
Play safe.
Kind regards, Colin.