Yes, drilling and tapping works, but to do it there are a few things you need to be aware of. Drill for a 3/3-24 tap, use a new tap. the pins are case hardened, grind up to 1/16 off the end. Centerpunch as close to center as possible. Drill as straight as you can, have someone help by sighting the drill as you go. Use a small drill moter to help you get the drill up in proper alignment. Take off the wheel and tire to get room to work easier. Use a lot of cutting oil on the (new and sharp) tap, you don't want to break lit. Use a grade 8 or better capscrew or threaded rod, it can take a lot to get these pins out. Drill and tap deep enough to get 1/2 " of threads in past the neck in the pin, you can pull the end of the pin off, the neck isn't very strong when you get a 3/8 : thread in it. It won't weaken the pin, they go through a lot of casting before the breaks. If you get the pins out without this or if you use new pins, have someone with a lathe drill and tap them nice and straight before you put them in, you or someone else will thankyou someday. Fill the hole in with a capscrew to keep it clean and rust free. Put grease in the hole in the casting before putting the pins back in.
Pounding the pins IN and twisting them with a visegrip can work but maybe not too. These pins can be a bitc* but you will only have to do the job once if you grase them and they are drilled and tapped when you put them back in.