As a 26 year veteran in a machine shop, sharpening bits, cutters, drills, etc became second nature.
As far as technique....find another old machunist and have him show you. Describing it over a keyboard would be impossible.
The actual type of sharpening device depends on a few things. If you have a meduim sized grinder, suitable for attaching a sharpening fixture...that works pretty good. It is a odd looking thing that bolts on the frame of the grinder. The drill bit sets in a tray and you simply traverse the bit back and forth, rotating it a little each time. Time consuming, but accurate.
The angle does depend on the material being drilled. Google "Machinist handbook" and you will find the exact angles relative to the materials. ( I did learn a trick for drilling brass and other soft metals that REALLY helped me. I wouild somehow have to once again SHOW you, I couldn't begin to describe it, but it works!)
Speed of the feed AND the speed of the drill makes all the difference in the world. In other words, how hard you lean against the drill pushing it into the metal is as important as how fast the bit is turning.
Our shop used several different cutting fluids. Some were oil based, and others were water based. Either way, usually, you want some type of liquid help.
Without sounding like the "know-it-all" everyone knows, I have become quite, shall we say,proficient at sharpening things. If you were close to Boise, you could drop them off at my house and I could dress them up here in a day or so. You might be able to find a local shop that one of the guys wouldn't mind taking a few minutes out of a break, for the mere price of a 12-pack to do them for you.