no, when you break the easy out in the bolt youre trying to extract then you are SCREWED because you cant just drill an easy-out out. i would suggest drilling the head of the bolt off with the appropriate size drill bit (so that the head is gone and just the threaded portion is in the floor pan), then apply a liberal amount of pb blaster to both the top and bottom. wait a minute, drink a beer or two, then crawl underneath with your vice grips and clamp the protruding end of the bolt and work it back and forth, until it gets easy to turn. then you can finish turning it out from the bottom which shouldnt take too long because youre going to be turning fresh threads through the nut instead of dragging the rusty ones through it.