Why not use a band/nozzle heater around the drum? https://www.watlow.com/products/heaters/cable-nozzle-heaters.cfm The heater , using a thin band of silicone rubber between the drum and band for a bearing surface, would be the 'bearing' for the drum.
If you really want to do the induction thing, one of these would be where I would start. http://www.theinductor.com/ Or http://www.mrinduction.com/ There are other brands out there too.Thiswill give you the induction circuit already made without the hassle, all you need then is to make your coil. Doubt very much if you can do a DIY circuit as cheap as this ready made proven device.
If you really want to do the induction thing, one of these would be where I would start. http://www.theinductor.com/ Or http://www.mrinduction.com/ There are other brands out there too.Thiswill give you the induction circuit already made without the hassle, all you need then is to make your coil. Doubt very much if you can do a DIY circuit as cheap as this ready made proven device.