stripped drain plug hole

You can try drilling and retapping for the next size up.

You can go the ghetto route and use some jb weld or similar stuff and secure the plug into the hole, then drill and tap the bolt itself for a smaller bolt.

Id prolly drill and retap for the next size up though.
 
You could permanantly plug it and then use a drill drive pump to drain the tranny from the filler hole . That would work , but ideally drilling and tapping it out is best BUT watch where all them shavings go !!!!
 
Most of the clutch crud settles to the bottom of the transmission and a drill pump won't get that out.

Fixes in order from best to worse

#1 purchase new factory cases
#2 purchase used cases
#3 take your cases apart and have your cases rewelded and then retapped for the factory drain bolt.
#4 insert a "time-sert" type insert
#5 insert a "heli-coil" type insert
#6 Insert an oversize drain bolt with a removable center bolt
#7 over tap the hole for the next size up drain bolt
#8 use JB weld or similar to make new threads on the factory size drain bolt.

These are your best choices in descending order. Obviously those first two are expensive a little unnecessary but they are options...
 
Wouldn't you be a little afraid a cork would get knocked by a stick and pop out? What happens to transmissions when they run without gear lube? So when it messes up not only will be buying a set of cases or having his repaired, he'll be purchasing an entire new bottom end. Instead of a hundred dollars (or possibly less) he'll be out several hundred dollars.

A rubber expansion plug isn't a bad idea, except that in order to get a good seal (without the use of RTV to make it more diffiuclt to get off and still prone to seeping) he'll have to drill the stripped threads out. If he's going to go ahead and risk aluminum chips in the transmission, why not drill it out the correct size for a time-sert or heli-coil?