Memphis:
You want a PlungeCut Router Bit for Metal
( hint the larger shank end is better as you will be placing a lot of side pressure )
As the other fellow said you'll need to use an X/Y table that can be cranked slowly as you cut. ( hint keep the cut side away, crank to you... and bolt everything down. )
A machine shop will have cutting lubricant. Start under your outlet and drill a start hole 1/6th larger than the 3/8" router bit. Work the piece to where your inlet will be. Wear safety glasses!!
As compressed air is used to remove shavings. Drill press geared to lowest speed. Oh yeah this is what you want.
The link
http://www.bladesllc.com/plungecutti...0Router%20Bits
Cheers Amy
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The dangerden cap is 5/32 to 3/16" | Base is half inch and silver soldered. Take fittings with you. It's about an hour work to cut and drill both parts, about 15 minutes capping.
But it beats the old cross drilled and brass plugged WB.