If your eve bracket is well mounted there should be little flex on the 2" collar. You could also slide your 3" sleeve over the collar to further mitigate flex at the threads.
If you do decide to crossbolt through both pipes, keep any through holes well away from the ends of either pipe. I personally would do a single 5/16" crossbolt centered in your overlap, along with at least 2 set bolts to keep movement between the pipes to a minimum.
1 1/2" will fit inside of most 2" sch. 40, but some cheaper pipe may have a large longitudinal weld inside that won't allow 1 1/2" to fit. Just thought I would throw that out there fyi.
If you do decide to crossbolt through both pipes, keep any through holes well away from the ends of either pipe. I personally would do a single 5/16" crossbolt centered in your overlap, along with at least 2 set bolts to keep movement between the pipes to a minimum.
1 1/2" will fit inside of most 2" sch. 40, but some cheaper pipe may have a large longitudinal weld inside that won't allow 1 1/2" to fit. Just thought I would throw that out there fyi.