Welding a bead on the stub axle

[Floats]

Hi Gents,
Some time ago I saw a post suggesting welding a bead on the stub axles(outside of the king pin bushes) in order to shrink the bushes and tighten up the kingpins.
Could this be done with the kingpins and bushes in position, even with the stub axles in position?
I assume this is done with an arc welder, running a bead up the outside of the king pin mountings, on the stub axle?
Does this weld need to be cooled down after welding or must it be left to cool down naturally?
Your inputs are much appreciated.