if you're building a custom cabinet or converting an existing one I think the easiest option would be to mount the spinner from the top side with the mounting plate counter-sunk into the top of the wood panel. like this:
though, in my opinion the better option would be to get a fresh piece of MDF for your control panel and then make a large cut out capable of supporting a candy-cab panel. Like Sega Did on Monkey ball, and some of the USA released games like Virtua Golf and Virtua Tennis:
if your cab can't fit a panel that large then you can always go with a Sega Aero Style panel instead.
though, in my opinion the better option would be to get a fresh piece of MDF for your control panel and then make a large cut out capable of supporting a candy-cab panel. Like Sega Did on Monkey ball, and some of the USA released games like Virtua Golf and Virtua Tennis:
if your cab can't fit a panel that large then you can always go with a Sega Aero Style panel instead.