I primarily work on single actions and muzzleloaders and I just eyeball the sight until it appears to line up. This time, though, I went a step further and bought a laser sight-in tool from Walmart (Laserlyte)--then tightened the barrel just a little more so the sight matched where the laser pointed.
When I fired it, the Black Hills .45 ammo hit about 5 inches left at 25 yards. My handload with a Lyman 454190 and 5.5 gr Titegroup hit right to point of aim for me and a few inches low for Cumpston.
Finding the center point of a cannon barrel sounds a little tougher--maybe using a couple of carpenter's levels to find top center. I would probably just eyeball it and mark it several times until it looked centered.