http://www.amazon.ca/Greenlee-730BB-3-Standard-Knockout-4-Inch/dp/B001UL13M2
This is what you want. Ask on your local homebrew club's forum if someone has one, because these are expensive and only used a few times. You can also go to a metal shop in an industrial park and ask them to do it for you. They won't charge a lot and they will clean it up nice for you.
What you are looking for is a radio punch instead of a conduit punch. This will work:
http://www.amazon.com/Greenlee-730BB-3-Standard-Knockout-4-Inch/dp/B001UL13M2