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Back about 20 years ago I did something like that on a semi-commercial scale (I made about a dozen pairs, and sold them at a local hobby shop). Come to find out later that @daniel_leavitt2000 bought most of them and used them on his layout/diorama.I used the lens hoods and crossbucks from the cheap Bachmann set. I made a new mast from brass rod and tubing. They looked half-decent. The LEDs I used were very similar to the ones you found, except mine had a rounded back (not rectangular like the ones you found). I made a jig to solder the positive leads of the LEDs to the brass mast at a proper spacing for the hood unit to fit them. Then I ran 2 magnet wires from the other leads of the LEDs down the back of the mast (glued the wire using thin CA glue). Then I flooded the backs of the hoods with CA glue to seal the LEDs in the hoods and painted everything black, then silver to prevent the light from leaking through the back of the signals.