Drilling hole through a 2x4 frame

[kamaroman68]

Hey guys I received my max G frame from Art Morrison this weekend. It is constructed out of 2x4 .120 wall steel. I am working on mounting the body and have a question about drilling a 3/4 inch hole through the frame cleanly the long way. The long way meaning 4". Any suggestions would help. I am considering starting with a 6-8" long drill bit to create a pilot hole first through the 4" section. Then go back and use a 3/4 hole saw to obviously make the hole. A piece of steel tubing would then be inserted and welded then tapped. Is there a better way to do this. The frame cannot be put in a mill so thats out. Thanks for the help Chris