Flywheel Fly Cutter for a Mini Mill Concept

[CanBeDone]

Thanks everyone for the inspiring suggestions.
Let me start again.
the purpose of this exercise is to present the tool bit to the work piece in the exact same orientation and manner as the Diamond Tool Holder holds and presents the tool bit to a rotating piece in a lathe. A rotating tool on the mill in my mental view, or proposed view, is a static view of the instant of contact. My Purpose for this approach is Simply to enable a newbie to start work using his lathe and his Mill with HSS Tool bits which can be resharpened simply and as often as required by a newbie with the aid of the. same jig as used to sharpen the tool bit as used in the Diamond Tool Holder.
This simplified tool bit profile and its cutting ability enable a simple approach to this Hobby of Machining with a minimal investment in equipment, tooling and enables again the newbie to sharpen and maintain the cutting tooling as required.
The Tangential Tool as used in the Diamond Tool Holder uses the entire end of the tool bit rather than a side or an edge of the tool bit.
It is this concept I want to recreate as a basic cutting tool holder specifically for the Mill.
My base machine is a modest Little Machine Shop High Torque 3960 Mini Mill which is a custom SEIG X2 mini mill.
It has a solid, rigid Column.
I have in my past in our lab used the expensive Lathes and Mills. Since Retiring I now own a Mini Lathe LMS 3560 and a LMS 3960 Mini Mill.
So I live on a fixed income, where cost is a real concern.
I want to avoid Carbide Tooling that initially is cheap but you have to repeatedly purchase new inserts, Like the proverbial Gillette Razor the company makes the real money on selling the replacement blades.
A standard 1/4 inch HSS tool bit costs a nominal $7 for a piece 2.5 inch long. This will last a long time if used in the Tangential cutting mode such as the Diamond Tool Holder.
With your assistance my hope is we can bring a similar tool to the Milling side of the house.
What I require is someone who has access to CAD and is willing to lend his assistance to craft a set of drawings from which the concept can become a real possibility.
Thanks for your understanding and patience with an old man and his dreams.

Exactly, that is the goal. Yours, and mine too.
Now, let's talk about the path to get there. I have sketched in my previous post two possible paths that can be taken.
The easy way out, and that is why I mentioned it first, is to give Gary's toolholder a rotating base, along the lines Gary himself has suggested. Since my ZAY7045FG is stronger than your High Torque 3960, Gary's suggestion would not work for me at all, as the holding power of a single bolt is not good enough for my cutting forces. Thus, I am not particularly interested in taking this route. I have shown my version of a flycutter going this route just to show that by changing some angles, the risk of the toolbit escaping from the tool holder can be reduced, making the whole tool safer to use at high rpm's. And high rpm's is, I have learned through long experience, the sine qua non of producing a near mirror finish surface on my mill.
On the other hand, if you are willing to build jigs to enable milling at other angles than just 90 degrees, you can discard Gary's toolholder, and its inherent weaknesses, but still keep his toolbit, its sharpening jig, etc. In other words, you keep the advantages that a tangential tool has, while ditching Gary's toolholder, and the holding power limitations it has. This is the second route I have suggested in my previous post. It is also the route I prefer to take.
I have already built about half of the jigs needed, and have a good idea of what else I'll need to build to complete the job. This means I am at the right junction where someone else's input can only improve the overall package, and that is where you, courierdog, come in, with your concerns about manufacturability and cost.
The limiting factor for doing it on this website is that I do not know how to make a 3D drawing readable in three dimensions on this website, the upload of an stl file failed. File Size limitations? No facilities to display stl files? gif might be another format capable of handling three dimensions on a two dimension screen. Does anybody know of software to convert stl into gif that runs on linux?
Unless this communication obstacle can be removed, we will have to leave this website and communicate via e-mail.