Pulled threads out of crank

Dont worry, your not alone on this subject, Customers would often call with this same issue usually from trying to pull a balancer on with the bolt rather than using an install tool or a hammer. Your biggest concern will be to make sure it is straight. The best way to do this is to Step Up the drill gradually do not go directly to the Helicoil tap drill size. The good thing is the threads will be stronger than they were from the factory with the Helicoil installed. If you've never used a helicoil kit before remember to knock the little tab off the end of the Helicoil and don't leave it behind
Also, im assuming it's a cast crank.
So this is very job specific advise so don't apply this anywhere else. Go in dry!
That's right don't use cutting oil, it will turn the chips into a sludge lapping compound that drills and taps do not like.    
Good luck.

A helicoil will work just fine. I looked up the torque spec and found numbers between 70-90 ftlbs. Just take your time and it will be fine.

Funny enough, the damper was fully seated when the threads pulled out. They're basically all gone. Yeah, the ARP torque spec is 120 and I'll be paying closer attention to it this time.