I didn't explain it well enough but that's why I also suggested welding some 1/4" by 1" flat on edge to the outside, above and below the nut. You would go the entire length of the plate that is welded to the square tubing and has the pin mounted in it. In other words, you would basically form that into a channel iron with just enough room to turn the nut. I think that would be just as strong as original if not even a little stronger because it would actually reinforce all the way out to the pin. Again, that is if there is enough room between the pin and the square tubing to allow this.