I am preparing to rip the strips for a Petrel build. My plan was for square edge strips 5/8 x 3/16. The boards I have are a full 1" thick. Not wanting to waste wood unnecessarily I was wondering if 3/4" strips would be too problematic for this design? Thanks.

You can cut 5/8" or 3/4" blanks off the edge of your 4/4" then turn them 90° and rip your strip that way. This will waste less than planing off 3/8" or 1/4".

Check the grain on your board to see if cutting blanks will result in favorable grain orientation for the resulting strips.