I use Habcool 318, diluted with DTE #6 to make it reasonably pumpable with the usual sorts of coolant pumps- out of the can its quite thick closer to gear oil, I have it down to about a 5W oil though viscosity is very sensitive to temp. For the Bridgeport (and Nichols horizonal) I got one of the small mag base coolant tubes- Jetco iirc, with the segmented hose. That works very nicely, just stick the base someplace handy and bend the hose to suit. I like the circular nozzles more than the fan, smaller is better the Bridgeport doesn't need massive flow. A valve at the mag base is helpful to reduce flow as the coolant heats and viscosity lowers- too much flow and suddenly the table starts overflowing lol. It helps drainage to bias the machine's level so it is slightly pitched downward to the back, side to side to bias drainage to one end of the table doesn't help much.
I just converted all the coolant bases from the plastic nozzles to short lengths of straightened copper refigeration tubing, the plastic nozzles tend to be large and in the way. +1 for also forming a couple inch long 90 degree bend of the tubing, to be stuck onto the ends of the new coolant nozzles with a length of vacuum tubing- sometimes that compact 90 degree bend will let you position the flow and nozzle much more easily.
Cleanup is a bigger job, I let the table drain then shop-vac everything off and wipe clean. With the oil based coolant there is no rancidity, bacteria or rust, tramp oil is also not of concern. Habcool states the 318 doesn't evaporate much, I've only added some make-up oil once in the last 2 years and have not needed to add more 318. Of course it gets all over the parts and workholding which means more cleaning and wiping, but all that keeps the machine and tooling cleaner which may not make up for the extra time & effort but it is nice.
318 will stain copper alloys with prolonged exposure eg some of the copper plumbing of the system. I find it tends make my fingernails dry and crack a bit, so am careful to minimize how much of it gets on my hands.
I tied the two lathe coolant sumps with the main sump (Bridgeport and Nichols mill share that one) via suction and fill lines through a pump and filter. Inside each sump the suction line is positioned so it sucks air once coolant reaches the minimum fill level, so individual sumps can't be sucked empty and thus overfill the others. I balanced the suction and fill lines using a valve on each one, so each tank gets circulation. There is a lot of cavitation via the suction lines but a lot of oil moves too. I set up a timer to run the pump for 15mins once a week.