See pic.
I take it you have a smiley face handline?
This is a vintage hand caster. It is cast just like a rod.
With a normal handline you take some line off and swing it around and throw...With this wooden design you do NOT take line off. You just hold it in one hand like you would a rod, and cast, one handed.
Imagine the spool part of the wooden reel being replaced with you plastic reel...So you want just the handle part.
You could make a handle on a lathe..Or buy a suitable size broom handle, table leg etc. So long as the Dia is larger than the "nose hole" of the smiley reel....Then drill the end and insert a thread insert plug. Steel plates, washers, drag washer etc just like you did with the Alvey...Fix it all to the reel through the center nose hole...Bingo you now have drag.
Make and attach winding (turning) handle between the "eye" holes. Or, use one of the eye holes.
You will then have a one hand cast reel that can be use in a rod holder...Has drag...Can use braid because you never need to touch the line.
itsaboat mate...Life is just a boat and then ya marry one !