Plunge milling operations are used to remove excess material rapidly in roughing operations. The cutter is fed in the direction of the spindle axis which has the highest structural rigidity. This paper presents a comprehensive model of plunge milling process by considering rigid body motion of the cutter, and three translational and torsional vibrations of the structure. The time domain simulation model allows prediction of cutting forces, torque, and vibrations while considering tool setting errors and time varying process parameters. The stability law is formulated as a four-dimensional eigenvalue problem, and the stability lobes are predicted directly with analytical solution in frequency domain. Time domain prediction of cutting forces and vibrations, as well as the frequency domain and chatter stability solution are verified with a series of plunge milling experiments.