Impact loads developed on a tool cutting edge when milling into a workpiece material are prevailing metrics for explaining coating fatigue failure and the subsequent tool-wear evolution. For predicting related stress and strain fields in the compound coating-substrate, stress, strain, and strain-rate, dependent material properties are required. The attainment of such data is briefly described in the paper. Considering these data, the occurring strains in the cutting edge at various entry impact durations, i.e., strain rates, were calculated and compared with fatigue-critical strains. In this way, the wear phenomena causing the coating failure on the flank and rake during milling were clarified. The attained results were also correlated to corresponding ones in turning, where the dynamic loads of the cutting edge are comparably negligible. The conducted investigations showed that the fatigue-critical strains strongly diminish, when the relevant strain rates increase; thus, leading to a remarkable tool-life reduction. This happens, because the increase of the strain-rate restricts the time for the dislocations movements; thus, regions with stress concentrations occur, deteriorating the material ductility, increasing its brittleness, and diminishing the fatigue critical strains. In cutting operations, where the coating fatigue is the main wear factor, the tool-life can be predicted considering these phenomena. In the paper, relevant experimental analytical procedures are introduced.