The receiver is probably case hardened. You might be able to work through the case.
As mentioned, make sure there is enough thickness in the breech faces to allow for the installation of the inserts, and retain the firing pins and retracting springs.
The breech face machining would be best done with a mill. The threads on the inserts would be very fine, the counterbores being shallow.
Would the firing pins be floating/rebounding? Spring retracted? If they don't retract before the barrels start to tip, they can be broken.
Just this afternoon I made a two pin spanner and removed a breech face disc so that I could properly radius a firing pin tip. I would not want to scratch build the setup.
I would be inclined to repair the hammers.