There are three levels of vellum, and there are two types of vellum: one vellum for armor and one for weapons. You will need to level inscription to get the successively higher levels, so don't expect to roll an alt and have the Vellum III right away.
Weapon Vellum: 3 Midnight ink, one light parchment (only takes enchantments with no level restriction)
Weapon Vellum II: 1 Fiery ink, 1 Celestial ink, 2 heavy parchment (takes enchantments with level restriction of 35 or lower)
Weapon Vellum III: 3 Ink of the Sea, 2 resilient parchment (takes enchantments with level restriction of 60 or lower)
Armor Vellum: 1 Moonglow ink, 2 light parchment (only takes enchantments with no level restriction)
Armor Vellum II: 1 Celestial ink, 2 common parchment (takes enchantments with level restriction of 35 or lower)
Armor Vellum III: 1 Ink of the Sea, 2 resilient parchment (takes enchantments with level restriction of 60 or lower)
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"the people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell them they are being attacked and denounce the pacifists for lack of patriotism and exposing the country to danger. It works the same way in any country."
Hermann Goering, April 1946.