Get the correct helicoil repair kit and slather the tap in some thick grease for all the shavings to stick to, instead of falling into the cylinder, cleaning it off regularly and reapplying fresh grease. I may have one in my toolbox but I'm all the way down in Wellington sorry.
If the motor was mega dollar or in really good condition and didn't want to risk it then pull the head. Otherwise if you get a few bits falling into the cylinder then they'll burn up pretty quickly once its running. Big whoop.
http://www.waihyd.co.nz/thread-insert-repair-kits-spark-plug-xidg60967.html