The one I currently have was a leaf only (about 11” long) when I got it 2years ago. I rooted it in a 4” pot and it grew a 3’ stalk, and I cut the top foot off. It had one blossom about a year after I got it.
it is still in that 4” pot (hence the “bonsai” comment) and has grown to a full 3’ this year, and had 2 blossoms several weeks ago.
William, a large cutting from a matured plant can bloom in the following flowering season, which means as little as just a few months. This cactus grows well outdoor in summer, in part shade, warm, slightly dry out between waterings. It doesn't care much about the soil type as long as it has good drainage, I'd even used ordinary garden soil to root a few cuttings for my neighbor and friends.
IMO, I would let those "stalks" that Ray mentioned, grow some leaves. They normally will produce more flowers from those leaves, or cut the whole stalk off after they have some leaves and root the whole stalk...there, you have a good replacement for an old big plant instantly.