I think what I'm going to try first is to see if the threads are stripped on the bolt itself, or if its the frame threads. Looking at the bolt, I can see that the threads are in fact a little messed up, but I dont know if that effected the inside threads on the frame.
Im going to find a different (non-quick release) bolt with the same thread spacing and diameter, and try to rig something up there, ill post pics once (if) I figure something out.