I did similar with my 120-300/2.8... couldn't believe they only put one threaded hole on that lens foot. So I drilled/tapped it and added a second 1/4-20 thread insert.
But you need to be careful, that brass screw is likely to become welded into the foot due to galvanic corrosion. If you want to use a brass or stainless screw you are best off adding brass or stainless thread inserts and using a thread locker compound on it. Otherwise, I would get a zinc or aluminum screw; even a nylon screw would probably suffice.