when you tap the wing bolt blocks a hardwood guide works well so you get a nice strait hole to block line,I use my drill press to make a guide out of oak or similar wood using a smaller drill bit to make the first hole in the wing mount block.

tapping the wood once you have drilled the proper size is really the same as metal slow steady progress,then I do just as chuck recomended, drip thin CA into the threads to harden them,once the CA is dry re-tap the threads and apply some more CA.
make sure the first coat of CA is fully dry, because if it isnt it will clog the tap up and you will have to pick glue out of it to get clean threads.

if you wanted to use CA hinges you could always plug the holes with some scrap balsa I like to use Titebond when plugging holes so you can cut new slots when I use CA the plug's dont always get in deep enough for a good fix and the CA hardens the wood too much to make a proper slot for the hinge.