Thanks everyone for your thoughts. Jerry, I really like your idea of making a bushing. I have a piece of 2" round that I can bore part way, so it will fit over the snout of the crankshaft and while it is centered in the lathe, drill the tap drill hole size dead in the center. This I can use as a guide by slipping it over the end of the crank and running the tap drill throught the front hole. If I was going to do more that one I could press a drill bushing in place, but for one crank, I think I will skip the hardening process or the drill bushing. Once the hole is drilled, I can put the fixture back in the lathe, drill out the major diameter size and use it to guide the tap. Excellent, it is great to have you all to ask.
Rick