This is a handy tool for cleaning up damaged male threads on an a rear axle housing. It works on RH ot LH threads. It may be available with 12 to 16 cutters for threads 4 to 24 threads per inch, and works on screw diameters from 1-1/4 to 5 inches.

These often sell on eBay for under $50-USD. and sometimes much less. For as long as this ad lasts you can see one here:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=110075106923
Otherwise search eBay or the internet for "Universal thread chaser".