+2. This is what I'd do as well, or...
I take it the beams are I-joists (with an OSB-type center sandwiched between two 2x4's) and already installed, and the holes need to be aligned. If so, you can drill 90% thru, remove the drill, then pop the plug out of the wood rather than digging it from your drill bit. Wear safety glasses. Make sure there is nothing on the other side of the beam, like FA wiring or the plumber's PEX, before you drill. You can use a laser or string line to get all of the holes straight and a cheater block of scrap wood or template to get them all level.
For 400 holes I'd budget for 2 holesaw bits and a few starting bits. You might want to put a dab of blue loktite on the center bit. I've found using high speed and light pressure works the best for avoiding binds. Use the smallest, lightest ladder you can; moving a 300lb rated 8' orange ladder around all day when you could have used a 6' 225lb green one is a waste of time and energy.