Cut out as many chips as you feel you need. Typically, professional casino chips have a diameter of 39mm and that is what you should aim for when you cut, although if you are off by a few millimeters, it certainly would not be too big of an issue.
You can also use cardboard, though plywood is a better fit due to its sturdiness and weight. To do this, you would need a hole drill and a piece of plywood.
Creating your own chips is rather simple, though you would need some preparation before you can begin.