Shaft encoder controls it.
Did it go into current limit and the spindle slow a bit?
The command for the Z feed comes from the shaft encoder and it sounds like it worked exactly as it should, even though it slowed a bit.
Are you starting at a slightly different Z position each pass so that the tool is cutting on the lead side? This will reduce power requirement.
There is some g code to control the approach angle, but I can't remember it. See the programming manual.
Possibly the brushes on the tacho generator on end of spindle motor need servicing. Tacho is fragile, so only service it if you know what you are doing.
Use of a recommended coolant/cutting compound suited to the material and the tool can reduce power requirement.
As for spinning in the chuck, which I have had with tough materials here's my fix:
Remove the jaws and get a piece of carbide a car battery and clip leads.
Connect one side of battery to the jaw, and the other side to the piece of carbide. Drag carbide back and forwards across the jaw surface making lots of sparks. Every spark deposits a nice tiny bit of carbide in/on the surface, and now the jaws will grip better. Use a few feet of wire, not too heavy in section to limit the current to a practical level, or but a car headlamp in series.
Super X3. 3600rpm. Sheridan 6"x24" Lathe + more. Three ways to fix things: The right way, the other way, and maybe your way, which is possibly a faster wrong way.