Bread – ratio of non diastatic malt powder to one pound of flour.

I wouldn't replace milk powder with vital wheat gluten. Vital wheat gluten changes the gluten content of your recipe. It's good for, say, turning whole wheat flour with a lower gluten content or AP flour into flour suitable for bread.

When I add vital wheat gluten, I subtract flour as your friend does. I only use it when I am not using a high protein flour.

The dried nonfat milk powder is likely in the recipe for flavor. I would instead use milk in place of water and either up the flour as needed or replace with flour as needed (you can tell this during kneading). I've done this just fine in bread recipes before.

The big question you have to ask yourself is, "How absorbent is what you want to add?" For instance Chia seeds are not going to affect your hydration much. Those you can probably just add. Corn meal on the other hand will absorb water, but it won't create gluten. You'd want to replace some of the flour with corn meal and perhaps a bit more vital wheat gluten. Wheat bran contains gluten, oat bran does not. Both will be absorbent so should replace flour. Any cereal will be absorbent, the question of gluten will depend upon the grains used. Because you're using a bread maker you're probably not as intimately aware of the hydration of your dough as you would be if you did your kneading by hand. For your next few loaves, take the dough out of the machine when it is done kneading. Give it a few kneads to get a feel for it. You'll feel it if your hydration is off.

You're right in that you want to try adding one ingredient at a time. Also start small, you might just be surprised at how much 1/4 cup of corn meal will affect your loaf.

I find it helpful to look at recipes that include the ingredient I want to add and compare that recipe to similar loaves that don't contain the ingredient. In what other ways are the recipes different?

2 websites come to mind that you might find helpful.

The Fresh Loaf and King Arthur Flour