You will need to turn the goblet part first and then the
handle. If you follow your idea there will not be enough
wood in the handle to hold the goblet whill hollowing out.
turn out the goblet cup the use a styrofoam ball to put
between tailstock and cup and the turn the hanlle part.
Walter

My bandsaw SUCKS! I got the cheapest one... like $200. I
should've spent more because it's worthless....

oooo wait.... an idea just popped into my head.... I know
how I'm gonna do it now. I'm not using the bandsaw.... I
make the handle, with the ball like you said... then turn
it around and put the handle in the chuck. Hollow out the
ball so it's sorta like a goblet, then use a dremmel or
something to split the goblet in half.

I'm going to waste soo much wood on this thing. I'm going
to use something cheap like oak.