I'm not the first one to do this, but I had a couple neat ideas that make it V2.0. I've seen 1/2" all thread and stuff used this way but thought is was a little to hokey to trust the whole bike on. If you want to watch Ol' Cooter play with his hard rod, keep reading!
Found some stainless solid rod in the scrap bin. It doesn't need to be solid, or stainless, whatever fits through the axle will be ok.
IMG_1582 by Cooter!, on Flickr
Drilled (action shot woo!)
IMG_1584 by Cooter!, on Flickr
Tapped to 1/4-20 (also not specifically important). You just want to be able to remove one (or both) ends.
IMG_1585 by Cooter!, on Flickr
Using an license plate bolt for the big smooth head and a fender washer
IMG_1587 by Cooter!, on Flickr
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