If you wanted one that was adjustable. You could use some pipe like you said, thread the outside of one piece and the inside of another. So to adjust you just screw it up/unscrew etc. Using a 1.5mm pitch, the cut depth is (if memory serves) something like 1.28 mm. So you could use something reasonably thin. 2mm or so. Turn a up a lock nut at the same time so your "bottle" doesn't change in volume during a race.
Or something.
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