Hello. The Latin name is Trichocereus pachanoi please google image the name and see if that is your cactus. Yes it look like the same one you have there. There are several. Trichocereus peruvianus, and Trichocereus bridgesii, T. macrogonus, T. terscheckii, and T. werdermannianus.
To prepare cut 12 inches off. Cut all the spikes off. Cut in half. Cut out the woody center. cut into slices about 1/8 to 1/4 inches. Place in a plastic bag and freeze. Remove when frozen and thaw. Messy bit next, wear rubber gloves. Peel off the very outer layer of skin. It's sort of like removing the salami casing when cut in slices. Put in a slow cooker and add water to cover and then a bit more. You will need to slow cook for about 12 hours adding water when needed. After 12 hours strain with a cheese cloth or old t-shirt.
The good stuff (alkaloids) are in the water now. Reduce the mix slowly on low heat. Could take hours. Your left with a slimy liquid. You'll need to take 1/2 to 1 ounce of that stuff to get off.
I find if I take it a bit at a time I can get down in about 1 hour with puking. Drink water with it, a sweet drink just makes the taste worse. Expect to keep going up for about 5 to 6 hours and then level off and its about 5 hours on the way down.
So find a day when you aren't doing much to try it out. And pay close attention to what happens during the trip. After all your are playing with a power plant. Chuck.