Welcome to the AAW forum, Paul.
The answer to your question is very dependent upon your intended use. Will this be for a mini lathe or a medium size or a really large lathe? What size hollowforms are you intending to make? The depth and diameter of a hollow form make a huge difference. There are also other considerations that can't be easily quantified such as the hardness of the wood, the cutter being used, how you use the tool, and how much vibration is tolerable for what you are turning.
On one hand, you could spend the time and energy to apply
classical beam theory to different materials or build something that is over-designed, cross your fingers, and hope for the best.
The modulus of elasticity of aluminum is about 30% of the modulus for steel which in very simplified terms says that for equal stiffness, the aluminum bar would need to have about three times the cross section for equal stiffness. Perhaps much more important would be angular deflection in the knuckle joints. Overall. I think that the main issue is minimizing vibration, but if there will be a considerable overhung load on the boring bar then total deflection would be important. I assume that the boring bar itself will be steel just to keep the diameter reasonable.
The main advantage of an articulated arm hollowing system would be the situation where you have a short bed lathe and don't have the space to mount a gate to trap vertical movement of the boring bar. If that isn't your situation then something along the lines of Lyle Jamieson's hollowing rig is far simpler and less costly.
My assessment is that you are creating an unnecessary design challenge just because you have access to some (I assume, free) aluminum.