In SOME cases with BIG and LONG threads perhaps. But there are some past forum threads about this stuff where it simply didn't stand up to bicycle needs.

You're also looking at doing this on a thin tab of a hanger that has only a couple of full turn threads. It's simply NOT going to do the job. You'll be far better off to drill and tap it to the next standard size and take care to not over torque it again. Or simply drill out what is left and use a nut on the back side. Or if it's curved like some of the tabs I've seen use a "D" shaped piece cut from some suitable round bar stock and drilled and threaded to act as a nut.

The last thread I saw about this stuff was someone trying to use it for restoring stripped out bottom bracket shell threads. It didn't take a lot to pull the glue away. And in the end that's all it is. Just another epoxy. Good stuff as it goes but not some sort of miracle worker.