I don't know what your shop is capable of, but I'll run thru what I do for fitting. You definitely need a lathe for this.
First, I make the plug exactly 1/2" from tang shoulder to plug face. Take that out of the lathe.
Then I set up the barrel so the threaded section runs true. I bore a shoulder exactly 1/2" deep, rethread the hole right up to the shoulder. Screw in the plug.
Oh, $#@*, it's 1/4 turn (2 flats) away from where I want it to line up.
Now comes the math part:
I am using 3/4-16 thread. That is 16 threads per inch. One revolution of the plug will move it in 1/16 of an inch (.062). Divide the .062 by 8 flats = .0078 per flat. So I want to turn the tang two flats to make it line up. (2 flats x .0078 =.0156") If I remove the .0156 from both back of barrel and shoulder of bore, I should have a perfect alignment. It hardly ever works out exactly. So if my math says take off .0156, I will take off .012 from each face, and try the plug. If I am within a 1/2 or a 1/3 of lining up, I leave that extra for a good wrenching tight fit.
Tom