You'll find an article entitled "Don't Buy Grommets, Just Stitch Eyelets" in the current issue of Designs in Stitches, #60, it describes how to make them and what stabiliser to use.

If after reading the article anyone is interested, the 1 1/2 "eyelet is still in Designs by Cuties http://designsbycuties.cuteembroidery.com/2990395/inch-applique-cirkel.html