This is my method for keeping freestanding letters and figure aligned.
!. plan the pattern for where you want/need it to be aligned. Add indexing marks to align the letters ( marks drawn out to the edge of the piece to be cut ). Use you preferred method but tape the back of the piece to be cut.
2. Using the smallest drill bit for the blade, drill the pilot hole as close the pattern as possible in the waste area. using the smallest blade you can, cut the outline of the letters.
3. As you cut, save the letters ( or fallout ) and tape them back into the pattern as you go ( I didn't do this and lost the small heart on the left side ).
4. When finished cutting make sure the top of the piece has all the dropouts tape back in place.
5. Turn the piece over and remove the bottom tape from the letters only.
6. apply glue to the letters, if you leave the tape on the rest of the pattern you can use it as a mask and either spray or roll adhesive on the back. Peel the mask off the back of the piece.
7. Turn the piece right side up and using the alignment marks carefully place on the desired substrate. Peel off the tape holding the pieces together. Gently lift the "waste" off the letters.....And Bob's your uncle: