Chuck,
Are you just trying to convert a 240 4-pin plug to a 240 3-pin plug without changing voltage across the plug pins?
If so, you might consider just buying one of these adapters:
https://www.amazon.com/Electric-3-Pr...306393152&th=1
It costs around $20, but by the time you go to Lowe's, buy the plugs and the ROMEX to wire one yourseld, you'll probably spend more than it costs to just buy one.
Note the shape of the ground pin on the 3-pin end. It's not the same as an RV 3-pin plug, so make sure it's what you need for your new welder.
My HF welder came with this same adapter. I use it to plug my 3 pin welder cord into the 4 pin plug that I installed in the pole barn years ago.