Depending on what equipment (tools) you have (and how precise you need to be), you can probably cut it with a diamond cutoff wheel for a Dremel. Similarly, diamond burr could make the hole. Maybe a carbide one would also. You can get the diamond wheel at Harbor Freight for a fraction of the cost of the 'official' Dremel version, and they also have sets of carbide bits there. They might have diamond bits also, but to be honest I haven't looked for them. You need to set this up, I don't think you could get a good job handholding a Dremel for this, and handholding might not even work.