Hi Alan .
What you set up depends on a few things :
What sort of set up do you have for a Mill ?
Does it have a chip/coolant tray or is it just mounted to a bench ?
What tooling are you using , HSS ot TC orTCT .
Are you facing/surfacing or milling slots or side milling ?
How much cash you want to spend and how often will it get used .
Ok so if you're using HSS ( i suspect ) and just facing /surfacing – a drip feed is all you need but if you are milling slots some more flow to wash away the chips can help .
If your mill is mounted directly to a bench without a tray you won't want anything more than few drops here and there as it will run everywhere .
If you are facing and can use carbide cutters (TC) or carbide tipped (TCT) i wouldn't bother with coolant .
A simple set up is a plastic drink bottle, plastic hose (fish tank airaitor hose works well ) and a small valve (from fishtank airaitor system as well) just fill the bottle then hang it up over the mill and use gravity for drip feed , there are some complete drip feed units available from machinery suppliers so you don't need to make one up if you don't mind forking out the cash for a bottle and a hose .
If you need a flood system then a system specifically designed for this is the way to go and your local machinery supply shop will set you up but $$$$
For very small work i just use an old SINGER OIL bottle filled with some made up coolant and drip it onto the work by hand as i feed the cutter along , also good for the drilling machine .
I don't know what the new cutting fluids are like for lifespan ? when i used to operate roll grinders about 20yrs ago we had to empty every tank for Christmas as the 4 week holiday was long enough for it to go rancid .
And watch out for the splash ! i ended up making some removable gaurds to stop coolant getting away from me especially with small cutters running at a higher speed .
Ian