Here is what I did. It is kind of ghetto but it worked and saved me from working with the router. 
First I took a scrap piece of wood and drilled a hole at one end. 
On the other end, I screwed a screw into it with the point sticking through the bottom of the wood where the edge of the hole would be. 
Then I drilled a hole in the middle of the tb area. 
I attached the piece of wood with a small nut and bolt and made it tight enough so the screw made contact with my lexan but loose enough so I can spin it. 
Then I began to spin the wood. It didnt take as long as I thought. Be patient and go the same direction every time. 
Once I got going, I moved it to the other side of the lexan and tacked it from that side. 
The result.. A smooth hole with no nicks. And it only took me once to do it. I tried other ways but kept messing up my lexan.