@SiameseCat, use CreateVariableDragElement since it will have the same effect as AddForce but it will save you having to do the drag calculation yourself. Your method for calculating the drag factor is correct but should be adjusted to 169.6 per DaveS' comment. The attack vector should be the point of attachment of the drag chute to the shuttle.
My calculations, under the conditions DaveS nominated, with a landing air speed of 205 kts, a relative air density of 90% (hot humid day, nominal sea level pressure) and not including chute transient conditions:
Initial decelaration: 9.25 m/s
Time to slow from 215 kts to 140 kts GS: 6.6s
How do those numbers look to you guys? Decelaration seems a bit high to me, maybe some reduction of the chute area to allow for the bleed hole would be in order.