To chamfer the edge, you would use a V-cutter, with the angle of your choice. Not sure what you mean by ''draft''. Normally draft is used in casting, where the wall of the mold has a slight angle to facilitate releasing the part. I think you would use a ball end bit to put a cove edge on the part or you could use a roundover (corner rounding) bit to make a radiused edge rather than a chamfer.