I would not go overboard on the surface speed in threading 316. Maybe try 500 - 600 rpm on that diameter. 316 is a poor conductor and the chips get plenty hot, and tend to weld into a glob with little provocation. This pile-up then ruins the insert tip. Using cutting oil on stainless will raise one helluva smoke, because it is very hot in the cut zone.
Being a coarse thread, if I had plenty to do, I'd consider roughing it with a cheap TNMG 332 or 432 insert positioned just like a thread tool. The toolholder would have to have neutral side rake, negative front rake, but most of this style would be built that way. It might be necessary to drop the toolholder a little bit below center to gain some side clearance for it.
Try to finish thread cutting with your top notch taking cuts on alternate flanks of the thread. If possible, tune your program so that there are no spring passes, as this is when tool rubbing will scuff the work and damage the insert. Make the last cut .003" or so.