I've actually replaced a few rivets on my frame, and was planning on using rivets to install replacement running board brackets, etc. But I decided to go with bolts instead.
The way to do rivets is buy the proper size (Hanson Rivet is a good source or search on fleabay). What you want is solid steel rivets. To install them, heat them cherry red, back up the head with a large block of steel, and peen over the opposite end. I used an air hammer with a bit that had a hemispherical depression in the end. It's usually a 2 or 3 man operation, go so gather up some friends. One to handle the torch, the other to buck the head of the rivet and the other with the air hammer. When installed hot, and you get them peened over correctly so everything is tight and the shank expands to fill the holes, they shrink as they cool to tighten up even more.
I don't think your rivet in a rivet idea would be nearly as secure. You don't want your battery falling out going down the road.
