Hello cornontherob,
If nothing is broken out i would recommend to remove the oil pan and bring it to a machinery shop. They just should overbore the hole a little bit and thread the whole with a new thread, so you can use a bigger diameter oil oilpug.
if you want to use Helicoild, please note that there are different types of inserts:
Thread technology HELICOIL®, AMTEC® ... - Böllhoff
If you want to do it yourself, there are oil plug repair sets on ebay.
Please always remove the oil pan to do the repair. Don't do the repair on the car.
Regards, Markus