You are not going to do any sort of quality repair that lasts without welding closed the grip bushing holes in the frame (tig welding only) and drill, countersink the back ( a dremel tool is used to cut the countersink in the inside of the frame with a 1/4" rotary file for alum frame ) Depth of countersink is 30% of the frame thickness. Install the new grip screw bushing and follow the directions that come with the staking tool. Also handy to have the grip screw tap ( 1 for the grip screw, one for the bushing, total of 2 taps ) Using the same Dremel tool with a grinding wheel, grind off the extra part of the inside of the grip screw bushing until it is flush with the frame for mag clearance. Glue, epoxy will work up until the firearm gets a few mags through with any of these, and you will end up in the same place. Nice firearm you are talking about here, deserves to be fixed properly, you won't regret it. You are going to need a qualified gunsmith with a mill and the proper tools for this, should have a tig welder as well. Not a job for Buba. I make my own 1911 frames for the 1911's that I have build for myself, some experience in this area over the last 30 years machining frames. I'm sure you can find a proper shop near to you that can do this work. Don't expect this fix to be cheap, but with the proper repair it won't cost one quarter the cost of a new frame.
Chris