We used to do it on school buses when the yokes would get damaged. Marking it before cutting really helps the alignment when going back together. Chop saw, welder, and straight edge is all we used. A friend of mine welded wider rims to his Pontiac wheels center section using only an indicator to align them while spinning the axle. It's just as crude as welding a driveline, but they turned out true and have run over 140 mph.
Joe