1. Rotation does not translate directly to velocity:
The velocity for a given rate of rotation depends on the circumference of the gear/wheel or outer radius of the spoke, etc.
2. The maths is wrong:
300.000.000 rpm is only 5,000,000rps so the circumference of the wheel turned by the final gear would require a circumference of 60 metres or a radius of 60/π metres.
3. No material could withstand a tiny fraction of the g stresses: One by one the gears would disintegrate from the outward angular momentum as the rpms increased.
4. Time dilation would grow exponentially:
Time dilation would become apparent as the velocity of the outer edge of each gear approached the speed of light. As the speed of the drive motor increased many time over in an attempt to compensate, time dilation would simply not allow any part of the gear train to reach the elusive velocity of light. Meanwhile the motor itself would disintegrate from excessive rpms in its attempt to defy the laws of physics.