yeah the PVC cement thing wont work. The correct way to fix this is to cut out the bad section of piping and replace it using a short piece of PVC and a couple of repair (slip) couplings.
I did once see a homeowner repair for this exact problem. The homeowner took a slip coupling, cut it in half then glued the two halves over the pipe where the hole was. It actually worked. Its not right, but it worked. I would recommend repairing it correctly of course.