Ok, now that I know where the datums are here is what I would do. Since there appears to be a feature control frame with total runout on each diameter, we will have to check each one separately.
Place the datum A in a inspection grade chuck but just at the end of the diamter and not much length of the material in the chuck.
Get is digital indicator in at least .0001 or better and true up the other end. This is done by contacting the top or highest point of the diameter B which will be its C?l, then rotate the part. One will see the readings move up and down. Tap it down at the highest point and re-tighten the chuck at the other end. Continue this until you have the datum B running true (little FIM or TIR). You are now set up to datums A - B.
Take your indicator to the feature and contact it at its C/L or highest point. Rotate the part and note the extreme readings. You are taking a circular runout right now.
Move the indicator to another segment on the feature and perform the circular runout again without re-zeroing the indicator.
Move the indicator again so that you have both ends of the feature and centre measured, again, without re-zeroing.
Total runout is the combined readings from the 3 segments. If in 1 segment, the lowest reading was -.0003 and the highest reading was at the other end and it was +.0004, the total runout is .0007.
Hope this helps.
Dave D.