I made a new connecting rod for a McCoy 35 last winter in the machine shop we have at work. I told my friend about it and he said, Why did you go to all the trouble to make a new rod I could have fixed it in 5 minutes. I said, OK tell me how. He said, Lay the rod on a piece of steel and hit it with a hammer hard enough to smash the metal and cave in the crank shaft hole. Then run a reamer through the hole to make the hole the correct size again. I tried it with another old engine and it worked. I put the engine on and airplane and its doing great. This might not be the best thing to do but it seems to work.
Making a new rod is not very hard it just takes time. Any machine shop near you can make you a rod. Shop rate is about $50.00 to $75.00 an hour so it may be cheaper to buy a new engine.
I think you could probably hit the rod with a hammer just hard enough to smash in the hole a tiny bit then put it on the crank shaft to see how much tighter it is. If its not tight enough hit it again and again until it fits tight. Then you would not need a reamer to resize the hole. This hammer mechanic fix might not work with a good quality engine.
Be sure to get some demensions off the rod and draw a picture of it before you destroy it with a hammer. A machine shop will need the old rod and the engine to make a new rod.
I can make rods. No problem. It takes about an hour to make one rod at a time. Set up is the slow part. I could probably make 10 rods at a time and have only about 15 minutes work in each rod. A local machine shop can do the same thing.