Doesn’t have to be tight, you want it loose. The centrifugal force will spin the sandpaper outward “honing” the chamber walls evenly.
This chamber was cut by Clay Spencer and trust me, I would never touched it had I not had a VERY prominent gunsmith explaining how to achieve the results I wanted. (Lapua brass)
I've got a few additional questions if you don't mind answering them:
Does rpm matter?
Do you need to put any different finish on after the 320 grit?
How far into the chamber do you go? Would measuring with standard calipers be sufficient to measure progress?