I wouldn't try it with a standard tap. A spiral-point tap or other power tap is the way to go. I've done it with soft materials. On free-machining steel it should also work, but I think having some sort of coupling that would allow a little misalignment would be wise. Those are normally used only for through holes, and power tapping a blind hole is asking for a broken tap. A four- or eight-point socket on a hex to square drive adapter would give enough flex. You will have some wobble when you hold the drill by hand, but you also get a little wobble tapping by hand with a regular tap holder.
Most hand-held battery drills have adjustable clutches designed for driving screws. The maximum slip torque may not be strong enough for a tap of any size, but work well and avoid breaking some taps. I'd use low range and keep the speed very slow in order to have time to react to a binding tap.
It would be imperative to use sharp taps and good lube.
