Personally, I really hate not being able to repair something that is broken, however in this situation you may be better off finding a good used lift handle/rock shaft assembly.
I am also not sure that the broken button you have is not some type of pot metal that you may not be able to weld on.
Not sure how much room you have, but it may also be possible to drill straight down through the sides of the remaining part of the button 180 degrees from each other (with a small drill bit), then brace the bottom of the rod and break the button with a small chisel or tapered punch. It may be impossible to do without damaging the threads on the rod though.
OR, you may be able to use a small rotary file to "grind" a couple of notches in the top part of the remaining button (180 degrees from each other) that you can get the jaws of your needle nose vice grips into allowing you a better grip.
In any event it will most likely be a tedious operation.
Good luck.
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