About the mesh objects: I know that some CAM programs will
only accept mesh objects, so meshes can definitely be used. I don't know the process that would be required though. I would suspect the biggest hurdle would be to export your 3D Studio Max drawings into an AutoCAD compatible format (DXF or DWG probably, maybe IGES?). If 3D Studio Max has that ability built in you're probably golden.
Another option would be to find a 3rd party program that can convert between a format that 3DS Max can export and a format that your CAM program can import. There are websites that convert files (I've never used them though, so I don't know how well they work).
Here's one:
http://www.zamzar.com/ (whether it does
any 3D files, much less the ones you need, is beyond me.
There are also a bunch of freeware apps out there that will convert one file format to another. They typically follow this naming scheme: <EXT1>2<EXT2>. I wouldn't be surprised if you could find a program called "3ds2dwg" if you looked hard enough.
Almost all, if not
every, CAM program out there will have a "step down" parameter that you can set (usually for each "MOP" ("Milling OPeration" I think)). This setting will tell the CAM software how to automatically produce the multiple levels of milling that you need. I've seen this feature called "waterline milling" on at least one CAM program.
I have the perfect video in mind that shows a machine cutting a 3D part from aluminum by taking many very shallow cuts, but for the life of me I cannot find it. (I looked for at least a half-hour.)
Hey, I stumbled upon it again... here it is:
http://www.youtube.com/watch?v=mcUqS9t0Yyw