If you have a router, then sure you do. Make a template out of your plexiglass, and drill your aluminum just a little bit undersize. Then, use a short pattern bit and route out the remainder of the hole. Here's a link to some pattern bits. http://www.eagleamerica.com/product....pn_E_102-0552BNow, I don't have a way to do the flat-bottom bore in aluminum
If you find that the holes too tight for the bearing, make the template from MDF. It will give a little, and give you a slightly bigger hole.