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Heat, heat, heat (AND the PB soak).
Try heat on the bolt and/or the hub. If you use the 2 nut method, you need to turn the inside nut to try to loosen the bolt, of course. This will cause it to back against the outside nut and hold firm. I would go with vise grips rather than double nuts, but that will definitely bugger the threads and make the 2 nut method more difficult if you have to resort to that.
Last ditch would be to cut and drill out. I'm sure some PB, heat and vise grips (or double nut/breaker bar) will do it, though. I've always had the best luck with this method.
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