if your going to run a flood coolant, would you really need compressed air too? i just have my flood cary off any swarf and i only use my compressed air to blow the part off after its done cutting, and i want it dry.
the little harbor freight pumps might be a good choice, but they cant produce much lift, around 6 feet - tube friction = about 5 feet... so, if the highest point in your tubing is more than 5 feet above the pump it might not work...
homedepot also sells some pumps, i think they call them little giant or something like that.. that would work as well... just remember that some of these pumps are magnetic drive, so if you end up with any ferous swarf, it'll stick to the innards of your pump and stop it.... so filter filter filter.
i had an old pressure washer pump laying around, so i just used that with one of thoes $15 router speed controlers from harbor freight so i can control the speed. Its a 3 piston positive displacement wabble plate type pump, and it'll squirt a 1/4 inch stream 20 feet in the air on full power.. ofcourse i dont need all that, but the pump was free, and i couldnt use it for pressure washing any more(it leaks a little and the mounts were broken off) so this seemed like the perfect use for it.
Grizzly X3, CNC Fusion Ballscrew kit, 3 500oz-in bipolar steppers, 3 203v Gecko's, Linear power supply from Hubbard CNC, Mach 3, BOBcad Pro Art V22, Rhino.