That's Joe's Ancient Orange Mead. Someone stole the recipe and published it without credit. Your OG would have been about 1.120 with 3# honey, but you won't ferment dry as the yeast will die off before consuming all the sugar. Bread yeast can't tolerate high alcohol concentrations.
The best way to handle this mead is not to rack it, but instead wait for it to clear up in your primary jug, which takes about 10 weeks. You'll know when it's clear, it'll just happen one day. Even better would be to wait until the orange pieces sink to the bottom; that's how you know it's really done. Then you can rack it and bottle.
If you put the whole orange in there, which is fine, you're going to be dealing with the bitterness of the pith (the white part of the peel). It's going to take a while for t to age out. Taste a bit when it's ready: if the bitterness is overpowering, do like I said in the first post and forget you have it for at least a year. If you dont mind the taste though, there's nothing stopping you from enjoying it immediately.
When it is ready, take a final gravity reading and post it here, we'll take a guess at your ABV.
Above all, make sure it is clear before bottling, and preferably wait till the oranges sink.