Suppose I have a circle $C$ of radius $1$, and I have a chord of this circle, of given length $l$. The chord makes a known angle $\theta$ with the tangent to the circle. I position a smaller circle $C_{R}$ of radius $R<1$ on the $\textit{midpoint}$ of the chord. Then I move the small circle by some distance $d$ $\textit{along}$ (parallel to) the chord.
For a given $R$, $l$ and $\theta$, I would like to find the maximum distance $d$ I can move $C_{R}$ by such that $C_{R}$ still stays inside the larger circle $C$: this happens when $C_{R}$ is just $\textit{tangent}$ to $C$.
How would I find this $d$ in terms of the given quantities? Any help would be appreciated!

As mentioned, the limiting case is when the small circle touches the larger circle internally. Then, we have the figure below:-
Applying Pythagoras theorem to the red triangle, we have $OM^2 = 1 – (o.5L)^2$.
Applying Pythagoras theorem to the green triangle, we have $(R + d)^2 = (1 – R)^2 – OM^2$
Eliminating $OM^2$ from the two equations, we get $d$ in terms of $R$ and $L$ only. $\theta$ is not included because $L$ and $\theta$ are inter-related.