Maybe I'm missing something here but why the insistence on using a Forstner bit on a through hole? Why not just use an auger bit (manual or powered) for the entire length of the hole? Maybe clamp a piece of scrap on the other side to minimize blowout or BugBear's suggestion....
To make things easier, a bit gauge or piece of tape wrapped around the auger bit can be used so you know when to stop boring.
Cheers, Mike