Buy a new barrel. First, the 22LR is .222 diameter which makes it kinda loose in a .223 bore in good condition. It would be very loose in a shot out barrel. Not to mention it's the wrong twist. I doubt you'd get 4 - 6" at 50 yrds. Second, while Brownells sells a die for cutting the muzzle for a flash suppressor, you'd still have to have the muzzle turned down to the correct diameter. Third, Brownells also sells a handheld crowning cutter, but it indexes off the bore. If your barrel is shot out then you wouldn't get a very accuate cut. By the time you bought the dies and cutters and risk screwing the whole thing up, you prolly be half way to buying a new barrel just as you want. I would imagine you could get a 22lr barrel for $100 to $150. Diligent shopping would get you closer to the $100 mark or less. Try eBay.