That should work well and is effectively all I've done, I just did it the long way round. The wall thickness on my Snapon 54mm socket looks plenty thick enough to get a good angle on the cuts as well which if you get it right will give a very positive fit.
I'm kinda embarassed that I didn't think of that. When I went socket shopping, I just looked for whatever was the closest circumference to the nut, but I bet the front socket would be fine.
The M6 holes are on the same diameter as the 8mm blind holes. Clamp a spindle nut to a piece of plate and use a transfer punch to transfer as many M6 locations to the plate as you can.
Set a pair of dividers to go from one transfer punch divot to one of it's nearest neighboring divots. Scribe lines through the center of the plate from each of the divots and center punch in the middle of those lines. Center punch three of the transfer punch divots that are 120* apart. Drill the center for bolt body clearance of the bolt head size of your choice. I used a 3/4"-19mm hex. Drill & tap the outer three holes M8 - 1.25 Install three 20mm long M8's in the outer hole and weld the shortened bolt into the plate on the side opposite of the hex. I sprung the M8's slightly so that the tool doesn't want to just fall out of the spindle nut.
Just wanted to offer up another lock nut SST option. I modified a Napa hub socket # 775-9025 to fit, and it works very nicely. $18.99 for the socket, and about 45 minutes of careful grinding.
Speaking of rear hubs…quick question: 1978 FJ45, Full Floating, with the axle nut with the axle seal. Once plate and lock nut are secure according to spec, there’s no mention of a torque on the last nut. Been a while since I pulled this rig apart. Feel like it just snugs against the lock nut? Thoughts?