Sounds good. Osage was
made for flat bows
. You might not need the full 1-1/2" width, but I would play it safe, and narrow it if needed.
Also, if you're looking for a 28" draw length, you could make it at about 66" long for saftey. If, however, you want it shorter, I completely understand (me being the short bow advocate that I am
).
As for the thickness, just take it down to where it starts bending with a floor tiller, then go from there.
And... show some pictures when you're done.
Sean