Chris,
Welcome to my world!
Too bad about the busted jewel. There's a good chance it was broken by someone installing the cannon pinion without supporting the center wheel's pivot on the other side. This kind of damage is often more than enough to "brick" a watch, especially those not deemed valuable enough to justify a proper fix.
It's a bezel-set jewel, not set by friction. The jewel is held in place by a thin lip of metal that's folded over. You have to replace the jewel and setting together, unless you're equipped to modify the existing setting and install a new jewel into it. You could buy several parts movements and probably not find a jewel-in-setting that would simply drop in. Pivot sizes vary. Arbor lengths and the distance between jewels vary. Outer diameter of the jewel settings and the holes they go into vary. If the setting is held in by screws the locations of those screws may vary. Variations like this are common between watches from the same run even, especially from pre-WWII times.
My fix would be to open up the hole in the jewel setting and install a modern friction-set jewel. I wouldn't remove the setting from the bridge for this work. I might even make a brass bush to friction in to the hole if a proper jewel is hard to find. And still, this is careful work, requiring proper centering of the modified hole so that the result keeps the wheel upright instead of tilted. This work requires special, expensive tooling and the knowledge required to use it.
The ideas for installing a brass bush are good but then the question becomes how to fit it to the watch. Generic brass bushings will need to be sized to fit, thus requiring some lathe time. They will be too thick, the hole and OD will require modification. Tolerances are defined in 1/100s of a millimeter. It would be easier to make a new bush to the required dimensions than it would be to modify a generic.
And thus we discover the beauty of more modern designs that use friction set jewels to begin with. Busted jewel? No prob! Shove out the remains and install a fresh one, check/set end play, and you're done.