First of all, getting nice clean bends in square alum tubing isn't easy. Years ago I made a camper shell for my truck using 1" sq. alum tubing for a frame. I had unlimited access to well equipped metal working fab equipment doing this job. Started out making a bending die that had a minimum 16" radius to bend the almost 90 degree corners. This die used with a Diacro bender did the job well bending the corner radius. The key was to attach a 1/8" welding wire on the outside edge of the die to cave in slightly the inside edge of the tubing as it was bent. Fab welds were all tig AC with high frequency, job turned out nice and lasted as long as the truck. I had to be there, had time to kill. You at home might want to consider just stepping out and buying her a nice one for all of the trouble and setup it's going to take just to make the bends. Notice that I didn't say it can't be done, it can of course. What I'm saying is the setup time making the jig and the fab time will making buying her a nice one seam cheap. I'm sure that with one of the Harbor Freight presses and time making the bending jig, it could be done at home. Do you have a tig welder ?? Minimum radius on 1 1/2" square tube will be different than my job, wire used to cave in the inside of the tube will be different as well. If you want to make this saddle rack just because you can, I'd consider going down to 1" sq. thin wall tube, big enough to support any saddle I have, and will require less tonnage to bend.
Chris