The working pressure for 1-1/4" sch 40 pipe is 2362 psi with no corrosion allowance. You could use sch 80 which will give you a orking pressure of 3282 psi. You can get this info from the "PRESSURE VESSEL HANDBOOK" by Eugene F Megyesy... A very handy book if you do this very...
You can get large diameter flange info from ASME B16.47-1996 which covers NPS 26 through 60" diameters. It covers class 75, 150, 300, 600 and 900.
Does anyone know where I can get a spreadsheet/formula for calculating the minimum thickness required for a 42" diameter carbon steel flange at 15 psig and 70F?