Supplies
A lock cylinder
A needle file set
A Dremel tool with small cut off discs (Not actually needed but cuts your time down)
Step One
Disassemble Your lock cylinder remove all the pins and springs.

I put a piece of tape around the other pins just to save some time on reassembly.
Step Two
Mark out your spot and make the first cut. Make sure you measure correctly and line up your cut properly or you might ruin the lock cylinder. Another thing you should check it the thickness of your cut off disc or your file to the locks pins and springs. If the Springs and pins are smaller then the blade of the file or the cut off discs then stop because they will fall out if you make the cuts.

For the cut I used the needle file shaped like a small v. After I made the cut all the way through I cleaned it up with the flat file.
Step Three
Continue on with all the other pin holes and you should end up with something like this.

Step Four
Reassemble The lock cylinder.

And if all went well you should have a good working cutaway.
Larger pictures can be found at here