Great idea. I am going out today to get my "tool". This same problem has had me stalled for a while.

To install new bushings, why can't you use same bolt but substitute the new bushing put large washers and nut on back side of mounting and head on bolt on new bushing and "drive" it in by tightening the bolt? To protect the bushing use a copper washer like used on oil pan drain plugs or make you own out of several layers of roof flashing. Apply greas to the outer side of the new bushing.

To reduce chance of breaking bolt:

1. Use grade 8 hardware (5 nicks on head vs. 3 for grade 5)

2. Use fine thread vs course

Grade 8 hardward is a little more difficult to find but my Pep Boys store has a good selection. Also try Ag and Contruction equipment dealers (the "Green Guys" tend to have a very good selection at fair prices)