Puzzdre,
When drilling through Plexi/Acrylic, there is an EASY way to prevent cracking!!!
How you say? :shrug:

:shrug:
Use either a steep angle bit, which, you can buy or grind down yourself. Endmills work well too.
OR
Clamp a second piece of scrap Plexi/Acrylic under it (just enough to catch the whole drill bit tip). Remember to clamp it down tight.
This will give the bit tip more material to drill into and less chance of snapping the finish part you are working on.
As for tapping Plexi/Acrylic... I used sunflower or corn oil from the kitchen. You could use any vegitable based oil, but I wouldn't waste a good Olive oil on it.