That way as the chip comes out of the chip control, it's immediately hit by the HP stream causing it to further curl and break.
On top of that you would add the flood coolant.
If done improperly, you'll negate the effectiveness of the HP and make things worse than not having it.
These tools work well... Streamliner Tools
Swiss Silver Cutting Oil is a good choice, they make a HP variety that resists the aeration.