I think this is a lot more complicated than you describe. there is a possibility of limiting the quality of the final cut, the cutting speed (depending on the volume that you are removing), regardless of whether you can change the bits, how the material can be clamped, etc.
but just accepting your request at face value, I would suggest:
following the pattern to cut the shape.
identify the remaining material and use a raster scan (side, offset down at each end in the width of the bit) to eat the material
which gives you a decent finish (the contour is the only cut, so there is only one connection that can be in the corner) and reasonable speed (you try to minimize the time spent not on cutting, which will only be when moving from one scanning area to another).
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