When giving us the siaze of the island we need both measurements. IMO there is no lighting in a kitchen that should be there unless it lights the surface below. I think without seeing your kitchen and the lights who knows .

The island will be 114” wide by 50” deep.

If I went with something larger as mentioned would I need 2 or 3?

That depends on many things and without seeing the space I usually like 3 but it depends on the style of the kitchen. I agree the 5" is too small. but I need more info.

la_la girl that balloon idea is great