Since you say pressure vessel I will assume ASME Sec. VIII vessel.
I wouldn't weld the lug to the shell then weld a pad around it. I would weld the pad to the shell then the lug to the pad. The benefit of the pad is to reduce the stress concentrations from the smaller area of the lug exerted on the pressure boundary. Generally the pad thickness should be equal to the shell thickness (but your situation should be evaluated on an idividual basis). The CODE and TEMA have lifting lug designs which give good starting points. The pad needs to be large enough to reduce stresses imposed in the shell.
The weight you should set any lift lug to is the safe working load limit for the lift you are doing. You need to look at all loading cases that the lug may be used for (see ASME UG-22). For a lug to shell these are most importantly weld area req'd, shear and bending stresses, weld stress concentrations,impact loadings, and safety factors of the lug and shell. The geometry of your lug and pressure vessel will affect all of these items and the lift you are trying to make.