Here is a good reference
http://www.mil-dot.com/media/1027/the_derivation_of_the_range_estimation_equations.pdf
Now remember the 1/8 moa is a much more precise increment than .5 mil, so you may have to do some cranking to move up and down in mils.
Not sure which scope you have, but some of the Nikons are cut in 1/8 moa (Buckmaster and Monarch), hopefully you have one with 12 moa per turn, so that will equate to 3.4896 Mil per turn.
1 mil = 3.438 moa, so 1 moa = .2908 mil, furthermore 1/8 moa then = .03635 mil
OK now we know that every click is .03635 mil so .5 mil will = (.5/.03635) = 13.75 or 14 clicks
The next is the 1 mil mark 1/.03635 = 27.39 clicks and so on.
If you want to save the confusion of counting clicks then you can just chart out .5 mil increments.
.5 mil = 1.719 moa, so 1.719, 3.438, 5.157, 6.876 etc you use the closest moa increment to mark off on your turret.
Now one issue is that the moa turret is not a whole number of mils per revolution, so when marking your turret you will have to increment it out to about 10 or 12 mil (which is enough dope for a 308 to get to 1000Y) you cant simply stop at 3.489 as the next revolution will be wrong.
Sounds very confusing, but it is possible to do, get some white electrical tape and mark off your turret, so .5mil will be approx at the 1.75 moa mark. This will also end up being the same spot for the 4 mils (at one revolution)
A turret tape might end up looking like this ( not exact but just as an example)
moa 1.75 3.5 5 6.75 8.5 10.25 12 13.75
mil: 0.5 1 1.5 2 2.5 3 3.5 4
: : 4.5 5
** crap the html editor keeps truncating my example, but you should get the idea.
or, you can buy a mil/mil scope
