Hood Mount Stripped

I was making great progress hanging the sheet metal on my 71 Dart in prep for final paint. Then it happened . . . . the driver side rear hood mounting plate stripped! Has anyone successfully repaired this issue with a threaded insert (a la helicoil)? At this point, I'm ready to cry! We were 15 minutes from being done and I had to check the hood fitment with the fender extensions installed and that's when it happened!:BangHead:
I'm thinking the only other option is to drill it out and tap it for a 3/8" bolt, but then I'd also have to hog out the adjustment slot in the hood. Everything on the inside of the engine compartment is already painted, so that is not an attractive option! Thanks in advance for any help!

Jim