So.................. off topic slightly.
Here are measurements for a block of wood to make a homemade shaper.
5 1/2" L x 2" W x 1 3/8" H
1. Lay flat, from the right side measure left 1 3/8".
2. Measure up from the bottom 1 ".
3. Drill a hole all the way through to the backside starting where you use 1 and 2 to make a starting point.
4. After drilled hole is big enough to start a 130 reamer carefully ream through to other side, I think, this may be able to wait for a bit. At the least start some of it.
5. Make the bed for the 2" #4 or #5 plane iron to lie flat on. From the left side to where the hole is make that side 1 5/32" high and the backside of the block 1 1/8" high. These two last measurements here may be 1/64" off - be careful.
6. Blade bed must be flat, no bumps, which is why I used pine - less work scraping.
7. From above the hole cut down to expose the area where you can see the reamer. So I guess ream the proper size hole before cutting down to expose just half the circumference of the hole.
8. So..........got interrupted again. ask question, if needed. later.
Note - you will need a known good peg to help with when to stop making the hole bigger.
Other things - I am going to assume only amatuer makers will try this way so some other things I thought of are when you do finally align the blade with the known good peg don't turn it counterclockwise - it will cut thus messing up the good peg. Something else is to lightly score your unturned peg right up next to the collar. That will let you know when to stop. I noticed I added a 1 mm chamfer to the entrance of the hole - that enbles me to see where to stop turning up along the collar.
Do have a real sharp plane blade and sort of perfectly square with itself. I just clamp the blade down on top but you can add a piece of wood between blade and clamp for better holding power. You could align the blade with the reamer but a good peg will work.