Interesting, Might want to build a "sleeve" to space the gauge out some? I don't know of anything more compact.
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Was thinking more like this in the correct size. http://www.irwin.com/tools/browse/drill-bits/hss-countersinksI bet that will seal just fine with the cap you're making. If you decide the ferrule should be further into the taper, I wonder if one of the common step drills might provide the taper you want but a little deeper?
I use step drills more & more in fabrication because they leave such nice deburred holes.
ExactlySo after a little digging I think what I need is a straight non tapered pipe tap
1/8 tubing with a compression ferrule to fit it (similar to an OP gauge) and the proper nut would be a 3/8-27 straight thread (like a lamp fitting). I probably have a couple in a drawer full of tube fittings if you just can't find anything. Check around online first starting with the gauge manufacturer.