1. Use a bearing bronze. Brass will not last.
2. Single point the threads on the lathe. Not that difficult and good experrience. Tooling cost is negligible.
3. Make a short lead in diameter that matches the OD of the screw. When the point of the tool just marks that diameter it is time to start testing the fit using the screw as a gauge.
Years ago on my first day working in a machine shop, the nut for the top slide stripped out on the lathe I was using. As I recall it took about 4 hr. to reverse engineer the nut, scrounge for material, and finally make the part.
To save time you might try silver soldering a bronze sleeve into the existing nut, then threading it.
John