That cut has the look of a very dull endmill.
Go to Home Depot and pick up a couple of Diablo 1/4'' spiral cut, solid carbide, router bits. (make sure you don't grab down cut by mistake) They do a fine job in aluminum (and steel). I keep a few of them in stock. Be advised, the router bits tend to run a bit on the small side, so a 1/4'' cutter might measure more like 0.245. Not a big deal, but when working with a CNC you have to plug in the actual tool diameter into the CAM setup if you want accuracy.
WD-40 is good, but you need to keep the chips cleared out of the cut, so a spray mist coolant is best.
2400 RPM and 5 IPM is not a bad place to be, maybe 6 IPM would be more in the ballpark at that speed.