I think you need a better understanding of the current chip compression process.
Using existing (or similar) equipment, high heat and high pressure are both required to a) get the blank soft enough to deform and completely (over)-fill the mold cavity, and to b) 'set' the material into it's final (hardened) chemical state. (Cooking it, so to speak -- turning batter into cookies...)
Squishing the blank beyond the confines of the mold is standard process (to ensure 100% fill), and the chips are subsequently machined to a consistent diameter. Final chip thickness is a product of the mold's dimensions, not the blank's.
I don't think a blank that is 2x the final thickness is going to work as you imagine. All that extra material has to go somewhere...