Producing a 150 minute single layer DVD will require a data rate so low that your video’s quality will be horrendous.
I see your options as this…
1 – Produce to a dual layer DVD, assuming that you have a capable burner.
2 – Split the affair up into two single layer DVD’s.
Use this calculator to determine your optimal settings for encoding to MPEG-DVD in Adobe Media Encoder.
https://dvd-hq.info/bitrate_calculator.php
Once you’ve encoded, author the DVD in Adobe Encore CS6. If you do not have it, here are instructions on how to obtain it…
https://helpx.adobe.com/encore/kb/encore-cs6-installed-cc.html
Since you’ve used DVD Studio Pro, the learning curve to Encore should be an easy one.
You can also export from Premiere to an intermediate file to import into Encore, which can then encode to DVD specs applying what it determines are the best settings for your chosen project.
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