[Cory]

What machine, specifically is this?

If I were running 3/16" HSS I would run it at 200 SFM or so and .0015 chipload, which works out to 4266 RPM and 12.8 IPM. You would have to adjust from this point based on whether you had flood/mist/no coolant.

I would take .090 depths of cut, so 3 passes of .083", plus a finish pass.

Carbide would definitely be a more forgiving option, but that cutter in carbide wants to run at a MINIMUM of 17,000 RPM, so you're not going to get much advantage out of it other than rigidity.