Unscrew the bolt which holds the bicycle light to the mount with the screwdriver. You will be using the mount in this project so you can put the light aside.
Unscrew the bolt which is holding the mount together. Completely take it out of the mount. Make the hole that the bolt was in bigger by drilling through it with the 1/4-inch drill bit.
Screw one of the wing nuts onto the 1/4-inch bolt so that it is at the top of the bolt and the wings are facing the head. Permanently fix the nut to the bolt with super glue.
Glue the other two wing nuts to the top of the washers. Make sure to line up the holes in the nuts with the holes in the washers.
Attach the mount to the handlebars of the bike. You should just be able to pull open the mount and fit it around the handlebars.
Screw the bolt into the mount in the hole that you drilled from the bottom, so that the top of the nut is next to the place where the mount will attach to the handlebars
Screw one of the wing nut/washer combinations onto the bolt. Make sure the washer is flat against the top of the mount.
Screw the other wing nut/washer combination onto the bolt upside down so that the wing nuts on the bolt are facing each other and the flat part of the washer is facing up.
Screw the camera to the top of the bolt.