Work smarter not hard friend. Welding is overkill. Just fill the hole with JB, put the new bushing in, cram more JB in around it, let it dry overnight. Boom.
I fixed mine a little different. This happens because the bushing wears out from dust in the grease, and then the pin wears into the steal. When i put the oreilly replacement bushings in it would crack and crumble after a couple days because it is weak in tension. The hole was still small enough to hold the bushing in place, but it put tension on the bushing, cracking it. I tried the JB weld but this was a colorado January and JB doesnt cure for **** in the cold not to mention, i dont have a garage to leave my door off all night.
So i measured the bushing and copied it on a lathe out of 6061T6 alu round stock and slapped that bad boy in there with no JB. It is stronger and wont ever crack, it still stays in its spot because the hole isnt completely ovaled out.
In your case thi the JB weld is fine solution and much better than really welding anything. Just clean the surface thuroughly with degreaser first.