If I was using a 12 mm hss slot drill on a manual,I would make sure my cutter is nice and tight in the collet,I would run at 400-450 rpm,up cut it at a 12mm depth cut,full lock on y or x depending on which way you're feeding and a light lock on the way you feed, feed it in by hand, coolant in fairy liquid bottle, have about 15 of them near hand,squirt it so the chips are clearing.
Piece being clamped at the end is a good idea if practical
When milling the 1.5 on the sides(I would take off 1,8mm leaving .2 on sides for finisher), go down 12.8mm leaving .2 on depth for finisher.
2 or 3 mm depth cuts are too small for hss cutter over 5mm diameter , you're wearing the bottom and not utilising the sharpness of the sides