You mean you want a tap to make a thread about 1.23" large diameter and s1.14" small diameter?
The closest standard inch size to 1.23" is 1.25" with either 7 or 12 tpi depending on whether it is UNC or UNF.
1-1/4"-7 needs a 1-7/64" drill.
1-1/4"-12 needs 1.16" so the closest drills are 1-5/32" or 1-11/64".
Drills and taps these sizes will not come cheap and hand tapping a thread this size would need almost impossible strength; machine tapping would require a very husky machine.
An open mind is a virtue...so long as all the common sense has not leaked out.