Mysql innodb_log_buffer_size change
The files are created when you first install MySQL.  It is clumsy to change the size after that.  In particular, the size cannot be changed dynamically.

How big is the setting now?  How many rows with the one transaction be affecting?  It may not be worth it.

If you do choose to make a change; see How to safely change MySQL innodb variable &#39;innodb_log_file_size&#39;?
Be sure to read the Comments, too.

Not Dynamic

https://dev.mysql.com/doc/refman/5.7/en/innodb-parameters.html#sysvar_innodb_log_file_size says that innodb_log_file_size is not dynamic, meaning that your SET cannot work.  You can change the value in my.cnf, but then you have the issues discussed above.  A note from the 5.6.8 Changelog:


  On startup, MySQL would not start if there was a mismatch between the
  value of the innodb_log_file_size configuration option and the actual
  size of the ib_logfile* files that make up the redo log. This behavior
  required manually removing the redo log files after changing the value
  of innodb_log_file_size. The fix causes MySQL to write all dirty pages
  to disk and re-create the redo log files during startup if it detects
  a size mismatch. (Bug #14596550)