If you drill/tap you will definitely need to be using a drill press. If the hole is tapped at even the SLIGHTEST angle the pedal will not be straight.

If you have never used a tap before remember it is a slow and careful process. Use plenty of cutting oil. Cut about 1/8-turn of thread at the most at a time and then back off the tap and clear the threads of spoil. Then tighten the tap again slowly and cut another 1/8-turn of thread. Repeat. If you try and just bear down on the tap you will certainly break teeth and soon after the tap itself right off.

Drilling out a tap that is broken in a hole is nigh impossible...

Taps are VERY HARD tool steel and don't bend much at all. They shatter. Keep an eye on the tap and if you see it twisting between the cutting surface and the tap handle you are millimeters from disaster.