Well maybe. But can you fit that into the clutch lever or a brake lever?
You could use what you are describing down of the clutch arm.
Drilling through threads can be tough to get the drill started but it can be done. Takes a good lick with a center punch so you can start the drill there's ways around that as well. Use the dremel cutoff wheel or metal file to make a small flat spot to center punch so it easier to try to drill through.
Bythe way No drill bits or taps were harmed in the above posts.