I'd make a mandrel with a milled keyway, to fit into the bore and probably grind a broach from HSS, to fit the shape of the raceway.
I've also considered a shaper, with some custom made tooling,
or even making an oversized adjustable cut rifling head. I think it would cut some nice raceways. Adjust the depth about .005" per pass. It would take awhile, but supposedly they work well.