First, have you spoken to your instructor to try and clear up these questions? If not, then it might be a good time to do so because I am not aware of a ball nosed cutter sized to cut a 0.19 degree radius. Maybe he intends the hole to be bored or drilled to a depth of 0.34"?
To machine the hex, you have to turn your OD down to 1.0046", then cut the flats so the span from flat to flat is 0.87". See this calculator:
http://janproducts.com/Distance_across_corners.html
Then you need to turn the end of the work above the hex to a length of 0.530". Then you need to ask the instructor how deep to cut the 0.150" wide relief cut (under the ball) because it isn't called out and we can't infer it with the info in the drawing.
Then you need to file the radius on the end of the ball.
Then you need to make the cap. I'm not sure how he wants it done. I would leave the work long, lock it in a collet block, angle the block to 45 degrees and support the block with a jack or some other support to prevent movement. Then I would cut the V with an end mill. Once the V is cut, part it to length and drill or bore the hole for the ball.
I think there is enough uncertainty here to warrant a discussion with your instructor to clarify the above points.