Well, I employ the "totally enclosed in a bucket mount" (as illustrated in numerous examples, including mine, in this thread. I don't think that sort of mount would be workable with the drive system you're using on the mill.
While I'm sure your drive system is efficient, I'm not sure how durable it's going to be. If your "Corona" type mill is like mine, there's not much in the way of a bearing between the shaft of that mill and the housing, and the sideways pull is going to wear that hole out pretty quickly.