E39 M5 Lower Oil Pan Stripped Drain Plug DIY Repair

This is a permanent solution for stripped drain plugs for scenarios such as over torquing the drain plug or general poor condition threads due to age, corrosion, and wear from usage.
This apply's to all vehicles with stripped oil drain plug, removal of the oil pan is not necessary.

UPDATE: 6 months of hard driving later, I have no leaks or problems changing the oil via the regular drain plug.