Maybe try using aluminum for your adapter sleeve, so the threads aren't riding on a polished, hardened surface.
Make the sleeve as thin as decently practical, slit one side of it so it will close up...is that the idea? What the hey, give it a try! Won't take too long to try it out. I think I lot depends on how much of a grip you need for what you're trying to do. If you're doing "light cuts" on the bolt, it ought to be fine.
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