I was able to fix it. I decided to go the bolt and nut route because I am not experienced with thread repair, nor do I have a bench. It was a very tedious job. Several trips to the store to find the correct bolt length. There's only about 1cm of space between the outer end of the bracket hole, and the brake rotor. I actually had to cut away about 5 inches of the metal brake shield to create room for the nut and for me to be able to turn a wrench, using some $15 shears. Even had to remove part of the parking brake shoe. Took a lot of work just for that. I couldn't even fit a locking nut back there. My machinist grinded down a hardened locking nut for me, it was a gamble since we're grinding down a nut, but he assured me that it is much stronger than a jam nut, since it still had normal thickness, just a little flatter. The good thing was, there was still a small bit of thread left inside the hole, towards the outer end, where the stock bolt couldn't reach. So I added a generous amount of blue thread lock on the bolt and the nut, spun the bolt into the caliper/bracket and into the nut. Had to hold the nut in-place with some needle nose pliers. I tighten the bolt first with about 25lb/f, then tighten the nut with 25 lb/f, then I twisted the wrench and ratchet together at the same time, about 80 lb/f. Seems like i should be in the clear hopefully.
I wanna thank all you fellas for the help. It was much appreciated. You guys are some of the most knowledgeable guys on the net.