Measure the OD of your new bushing and make a pin the same size from copper, brass or a carbon rod (if one is available to you) With the pin inserted, you'll find the weld flows nicely right up to and encircling the pin... without sticking!
Once you knock free the pin, the hole will be perfect... or as far as to where the weld reaches at least.
I made a brass pin and used a mig wire feed with gas shield on the highest amperage.
Tip: If you're struggling with a welder of slightly inadaquate power, one trick is to preheat the target weld area with a simple propane torch. I would stop just before it glows, although ANY amount of preheat makes a tremendous difference towards a nicer penetrating bead.
Finally, I always like to practice on a similiar shaped piece of scrap, before endangering real Ford iron.