You can use it for small starter. Fermcap would help keep the krausen down to prevent over flows. I wouldn't recommend boiling your wort on the stove with the small flask. Boiling in a small flask will guarantee a volcanic like eruption.
Boil your wort in a separate kettle to get a good boil with little risk of a boil over. Cool in the kettle before adding to your starter container.
Do your have a gallon pickle jar, etc? Any type of container, that is food safe, can be used to make a starter in. I use a 1.1 gallon RubberMaid storage container on the stir plate and a two gallon pickle jar off the stir plate. Bottom isn't flat in the pickle jar so it won't hold the stir bar reliably.