Best is the 'from inside the head' with a tap......BUT.....if your good and steady, slowly run a NEW plug into the threads while attempting to hold the plug as straight as possible. Only use your fingers for the first full turn. If the plug remains straight, you may need a plug socket but only use your fingers to get another turn. If the plug does not stay straight, back it out and get some more wrenches.
I have done this more than once over the years on 736 and 305 motors with good success.
BTW......if you need to replace the threads, a Time-sert is stronger and longer lasting than a heli-coil. A good shop should be able to install #1 or #4 without pulling the motor.