Cephalotus follicularis, being a plant that - in my experience - dislikes being too regularly repotted, thrives in containers that initially appear to be too big for such a small plant.
I would recommend using plastic pots, with drain holes, of a minimum size of 18cm (7") diameter.

The bigger the volume of compost the better, I believe this creates a stable compost temperature that doesn't overheat in summer or freeze in winter.

When repotting reuse some of the compost in which the plant has been growing - various sources point to this being beneficial to the plants ability to settle in its new home. When repotting, the compost should be damp, fill the pot to around half full and spread the roots down into the pot trickling the compost around them until the crown is level with the compost surface. Water it from above using a watering can with fine rose attachment to settle the compost around the roots. Stand the pot in a water tray until it can take up no more water then remove to a moist sand bed or bed of live spagnum moss. Keep the plant at around 68F and in a 50% shaded situation with humidity at around 70% until new growth is obvious. You will probably lose some existing top growth but, as long as the roots are OK the plant will recover.