The .5 inch piston would only go in the .5 barrel with the .5 inch T to release the air. The .5" would not go into the 2" barrel
I don't follow.
You want a separate valve for the 2" barrel? The 0.5" what? You've mentioned three different things all being 0.5" in diameter, can you clarify which one?
Details about?
The cannon. So you want a 2" barrel and a 1/2" barrel. From the picture I can sort of tell your chamber is 3" in diameter? Why is it behind the piston valve? Why is the bottom port of the piston tee empty, it leads to nowhere? So you want a 1/2" tee, with a 1/2" piston in side it? I wouldn't recommend having a 2" barrel reduced down to 1/2" and threaded in the piston housing tee. Without a good barrel support, there would be too much stress on the joints.
Also, a 3" chamber is way overkill for a 1/2" valve. You should download and use GGDT to optimise your cannon. A 3' length of 1/2" pipe would be perfect for a 1/2" valve.
Yes, the sprinkler valve would work, but with what? Do you want a 1" sprinkler valve to pilot the 1/2" valve or do you want the 1" sprinkler valve as a separate valve? I don't get your intentions, you need to clarify. A 1" sprinkler valve might even give the same, if not better, performance than your own 1/2" piston valve.