That chip does peak 3A . . .
Yes Admin the chip does peak at 3A, BUT thats only the supply to the switching transistors, which can switch any maximum current rating you desire.
As long as the gate supply doesn't need more than 700mA each and you can match the transistors charachteristics to the ones you will calculate further down in the datasheet.
There are many switching regulator I.C.s that use external transistors, that was just one of them
