Thanks for all the help guys. I took your advice and did some additional research. Looks like I have a lot of options here...
1) The most expensive, replace the pan.
2) Time Sert $105 on ebay (not really what I want to spend $105 on)
3) Autozone, PepBoys, etc get a "single oversized self tapping oil drain plug" (I have read online these things work great)
4) If it is really bad, I could get a "double oversized self tapping oil drain plug (they even come with magnet plugs that are self tapping).
5) Even better yet there are piggy back oversized self tapping oil drain plugs (see picture) You essentially replace the drain plug with the self tapping plug and utilize the "piggyback" plug 1/4" plug for drainage.
6) JB weld in a Fram Sure Drain or Fumoto drain valve in place.
7) JB weld the original plug in place and utilize the Hex Socket plug to the left of the oil plug (which is were my oil temp gauge is...)
After much consideration I have decided to get a piggyback single oversized self tapping oil drain plug, I have also decided to purchase a Fumoto drain valve which I will hook into the piggy back plug on the self tapping drain plug. I am opting for the Fumoto, because I am afraid that even with retapping with the oil plug I may still have issues in the future. With the Fumoto I will never have to remove the plug. Based on the longevity (i plan to ride about 500 miles then reassess) of this fix I may just JB weld the self tapping plug in place.
Now for the lesson learned... I will use my 4" stubby ratchet wrench for secure all oil drain plugs going forward instead of my 12" Flex Head Snap-on ratchet and also only change the oil when I actually have enough time to do so.