Yep. Gorilla glue expands sort of like foam. My only suggestion would be to allow it to cure for several days before you drill it, because even though it says full cure in like 12 hours on the bottle, it still seems a little elastic to me until a few days have passed, and its original intended use is not to be used in such a thick application, so more cure seems logical.

I have a 200 y.o. bed that my wife ordered from France. The frame around the footboard pulled away at two corners and the highly decorative panel that makes the bed fell out. The bed is put together with pegs, not nails or screws. Not caring about resale (Carleton ), I gorilla glued all the seams and put four ratchet straps on the sucker and heaved it together at about 3oo#. My 230# brother has, well, deflowered that bed several times and it has held together. I also did the drill and tap like you describe on a victrola stand we use for a bookshelf and a coffee table.

Course the dowel thing isn't much harder, but you have to be careful on something like a chair, because you could split the wood assuming it is fairly narrow if you use too wide of a dowell.