Hi Fred, I've made a few silencers and exhausts in my time. I would recommend you chose a smaller diameter outer to stop the silencer from grounding out on bends.
If you want to avoid the thing being deafeningly loud, then a 2" o.d. perforated tube in a 110mm outer would be ok, but loud. You could make a simple baffle to go in the end using a couple of staggered penny washers welded inside the tube. This would dampen it down a little.