If'n you don't like to weld (like me)86 Bronco said:
Summit and several other places (like NAPA) make a bolt together drain nut with a drain plug within it. You just drill the hole and and sandwich the whole setup over the pan, with sealing washers and bolt it together.
I chose to weld in the bolt because it's permanent and has a much larger hole for drainage. The other good thing to welding in the nut is you get almost 5/8" of fine threads to no SOB can strip the threads on you.
Personally I don't let SOBs near my truck to work on it.
When you gonna get a remote filter onto that 86 ?
Sixlitre