Just make a drill guide to keep the hole straight.
Take a wood block, like a piece of 2x4, say, 6 inches long. Stand it on edge and drill a 1 inch hole half way through (1.75 inches deep). Change bits to a 3/8 and continue drilling through, keeping the bit centered. Now, take that block of wood to the crank, slide the 1 inch hole over the shaft, and drill the correct size hole in the crank using the 3/8 hole as a guide. I think the bolt is 7/16? Adjust the 3/8 hole to the correct size for the drill that matches the tap being used.
Again, the hole concentricity and parallelism is not critical, the bolt and washer just hold the PTO on. This wood guide will get you plenty close.
there's a reason I go by "sawdustdad."
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