The first thing you need to consider when seeing numbers such as 26,300 psi chamber pressure is that materials have to resist stress, not pressure, even though the units are the same. A chamber pressure of 26,300 psi can induce a stress of 26,300 psi or a stress of 100,000 psi depending on the chamber diameter and wall thickness.
There are a couple more things than just the chamber pressure and yield strength of the barrel material to have a safe design. One is fatigue failure and the other is safety factor.
"Fatigue" is the traditional name for failure due to repeated application of load, such as firing a gun. The normal practice in steel is to allow twice the strength of the static load stress to reach a point where fatigue failure will not occur, which means if your calculated static load stress is 30,000 psi, then the material strength should be 60,000 psi. Now in a typical gun, you are not going to reach the 10,000,000 repetitions that represent the no fatigue situation, so you can build to a lesser standard, since the barrel will wear out before it fails in fatigue, but you need to do the real, not backyard, engineering to be able to confidently reach that point.
Safety factor is something that is used to compensate for things that cannot be readily determined, such as exact loads, exact material strength, etc. It is different for different structures--airplanes have small safety factors as large ones would prevent flight. This is compensated by frequent inspections and a schedule of part replacement before the expected failure time. Other structures have large safety factors and don't require special handling, although some inspections and repair as necessary do occur. Safety factors for guns tend towards the smaller side because they need to be mobile to a large degree. Their relatively short life span allows operation in the lower end of the fatigue range since no gun reaches a 100,000 cycle life.
Anyway my conclusion is that you should stick to the chamber wall = chamber diameter rule unless you are qualified to do the engineering (and do it) or engage a professional engineer to do the engineering.