If you submerse the entire blade, there will be no flame. There is nothing wrong with using a pot from the kitchen. My pressure cookers are pretty big and would require a lot of oil to fill up. If partially filled, getting the blade in would probably put my hand above the oil because the pots are pretty tall. Just do a dry run with water and the tongs you will be using to check if you can get the blade in safely in case you do get a flare up and to see how much oil you will need.
I do not know if 1095 will properly harden when quenched in vegetable oil, I thought it needs fast oil or water. Preheating the oil might help.