I have brand new multi step drill bits and some hood locks would this work properly? the bit gets bigger as you drill deeper and needs to be a pretty big hole (forget the size now)

 

im going to look at this today I think everyone uses a hole saw with a small drill bit to mark the center point? the drill is going to slip for sure lol

 

Properly mask the area you plan on drilling. Look into glass drilling, and that'll give you a good starting point for drilling CF.

 

I would definitely NOT use a hole saw if you can help it. The step drill bit should work fine- just drill slowly and smoothly, and as noman mentioned mask off the area you're drilling through. This should prevent the coating on the CF from cracking/splintering.