If there is room, leave the existing holes and rotate the nut plate around the screw hole and re-drill.
Also they make many different types of nutplates; single leg two hole, two leg "V", etc... that might allow you to work around the existing holes or just use the one good one.
If none of that works, idea #2 doesn't sound too bad. I don't believe the stall warning device would be considered structural.
Both of those are better solutions than mine and will work, thanks! Sometimes the simplest solution is staring you right in the face and you can't see it. I need to open my eyes
Here's another option - abandon the oversized hole and use a one-sided nutplate. The correct-sized rivet hole will fit the pattern and you'll need to drill one more rivet hole.
I believe the correct part number would be MS21051-L08, 75 cents from Vans, you probably already have a bunch in a bag somewhere.
By the way - I found that I had a LOT more places in the build where this type of nutplate was advantageous than are called out in the drawings. You might want to order a couple dozen extras on your next Vans order.
