I do such millling jobs on the Myford all the time. It's no problem as long as you observe the basics. Rigid set up is key. Locking all slides not in motion is key. Use the gib adjuster screws to lock if you don't have lock screws, including on the vertical slide.
Why a four flute end mill should not be used to cut a slot:

If the above four-flute end mill is cutting the slot as shown, revolving anti-clockwise, then cutting edge 1 is cutting in the direction shown by the small arrow next to it. This generates an opposite force in the somewhat flexible cutter, causing the cutting edge at 90 degrees to it, 2, to be pushed outwards in the direction of the small arrow there.This causes the cutter to wander and cut a slot wider than the diameter of the cutter. It can get worse as the cut goes on, and is at its worst as the leading cutting edge in position 1 breaks through the end of the metal at the end of the slot. It is not unheard of to snap an endmill while cutting a slot at this very point as the dig in can be harsh.
By using a two-flute slot drill, designed specifically for milling, hey, slots, this effect is eliminated. When the leading cutting edge 1 is trying to push the cutter sideways there is no cutting edge at position 2. The second cutting edge is out in thin air in the middle of the slot where it can do no harm. At the critical point as the leading cutting edge breaks through the end of the metal, same thing. So it cuts nice and straight and true to size.
I just cut a 1/8" slot in block of cast iron for a GH Thomas style rear toolpost for the bolt on the spring loaded detente pin to stick out through. No problems — using a 1/8" two flute slot drill. Nice true straight dead on size slot. I have also made several four-way toolposts from 2-3/4" square steel blocks with the 13mm slot for the tools to sit in milled in the Myfrod, again using a 13mm slot drill.
See GH Thomas's Model Engineer's Workshop Manual for a full discussion on the subject of slot drills vs end mills for such work, pp 77-79. It's a very useful book. He was a cagey old fox who worked all his life on machine tools and then went home at the end of his shift and built models and Myford accessories for light relief. Well worth buying a copy. I was taught the same thing as an apprentice; slot drills for slots, end mills for milling but nobody could ever explain why. Now we know. Good old George.