I just finished that nutcracker and most of it was cut out of 1 1/2" wood. I used a #5 Pegas Modified Geometry SPR for most of it. That was because it was the biggest most aggressive blade I have. The size was right, but it may have gone better if it hadn't had the few reverse teeth at the bottom. Maybe not, I don't know. It worked well, but I had to slow the speed of the saw down to about 1/2 what I normally cut at and go real slow. This project was only my third attempt at compound (I call it, hope we are talking the same thing), cutting. If I do a lot more of this type cutting I will probably look for a different blade, or not...
I didn't have the clamp NC Scroller shows but if I do more I may make one. There were some scary places where I had to get real close to the edge of the wood and the clamp would have made it easier. I didn't use the tape, it might also help hold things together. Basically I just winged it, I was using real scrap wood, most was a piece a 2 x 4 I had in the shop, so if it didn't work out no big loss. I am really surprised it turned out as well as it did, coarse you can cover a multitude of errors with some paint!