It seems to be similar to what is achieved with a splined miter, just with a different angle.
1. Divide and mark the cylinder's circumference into even sections.
2. Tape the cylinder to the cone (and glue the two together, but I don't know that it would help much), with the tape being between each mark. I'd probably have 12 or
16 sections depending on the circumference of the cylinder.
3. Set the cylinder and cone in a crosscut sled, with the long axis of the cylinder being parallel to the direction of cut.
4. Tip the assembly forward so that the joint of the cone and cylinder is the only thing resting on the crosscut sled. Attach blocking to the sled so that it is providing stable support for the assembly.
5. Rotate the assembly to each mark and rip a slot into it with the crosscut sled.
6. Assuming you use a full kerf blade, glue 1/8" strips of wood into the slots.
7. After the glue dries, use a handplane to reduce the strips on the outside flush with the cone and the cylinder. I'd leave the ribs on the inside... they'll probably look neat. Or, a 1/8" or 1/4" chisel will flush the insides.
If you want the length of the strip to extend the same amount into the cylinder as it does the cone, then measure the angle of the cylinder. Lets say it's 130 degrees. With the joint of the cylinder and cone resting on the crosscut sled, the angle of the cylinder to the surface of the sled should be 25 degrees [(180 - (angle of cone to cylinder))/2]
I'd probably use a quality combination blade for the cut - something with ATB teeth plus a flat raker tooth to ensure a flat bottomed cut so that you don't have little batwing holes that go past the spline when it is made flush with the drum. Perhaps use some tape where the blade will exit the cut to help reduce tearout to a minimum.
HTH
Ben