Originally Posted by
KingOfMalkier
I have an idea that may help if you don't have a drill press and are worried about the bit dancing around. DISCLAIMER: I most certainly have not tried this, it's just an idea.
Use a small drill bit and drill the holes before applying the epoxy. After you've applied the epoxy use a toothpick to remove the epoxy from the small hole before it dries. When you're ready to drill after drying, you'll have a pilot hole. I don't know how this would work in practice but it was just something that popped into my head while I was reading.