re: How to

Certainly you can just make two passes over your dado stack (set for 3/8" depth). IMO, I'd have the workpiece run against the fence with the blade set to the opposite side of the workpiece.
First pass has the edge of the dado at your 1-1/2" mark, second pass at 3/4" from the edge.

May be too much material for a pass in which case you could "nibble off" maybe 1/2" from the edge, bump the fence 1/2", nibble, bump again and be done.

You can also make two cuts with a rip blade, first cut 3/8" deep, 1-1/2" from edge. 
Second cut 1-1/2" deep, 3/8" from dado'd face (inside face?)
Though 1-1/2" deep cut probably will burn a bit.