I cannot comment on the CAM side of things but do have some thoughts about your machining strategy.
You are likely to run into problems with chatter. Presumably your blade is going to be thin compared with its length and you do not mention having a 'tailstock' supporting the end of the blade. Furthermore you plan on using the side of the cutter so you are going to have a lot of the cutter engaged in the cut.
Without a tailstock supporting the far end of the blade you are likely to get serious deflection and chatter as the cutter moves away from the chuck on the rotary and approaches the unsupported end of the blade.
With a tailstock you will get less deflection but there is a good possibility you will get chatter near the mid section of the blade.
Before spending a lot of time figuring out how to program a proper blade profile using CAM it might be worthwhile to wirte some simple code that will generate a tapered helix and machine a sample just to find out how much chatter you do get.
An open mind is a virtue...so long as all the common sense has not leaked out.