Currently, simultaneously ensuring the machining accuracy and efficiency of thin-walled structures especially high performance parts still remains a challenge. Existing compensating methods are mainly focusing on 3-aixs machining, which sometimes only take one given point as the compensative point at each given cutter location. This paper presents a redesigned surface based machining strategy for peripheral milling of thin-walled parts. Based on an improved cutting force/heat model and finite element method(FEM) simulation environment, a deflection error prediction model, which takes sequence of cutter contact lines as compensation targets, is established. And an iterative algorithm is presented to determine feasible cutter axis positions. The final redesigned surface is subsequently generated by skinning all discrete cutter axis vectors after compensating by using the proposed algorithm. The proposed machining strategy incorporates the thermo-mechanical coupled effect in deflection prediction, and is also validated with flank milling experiment by using five-axis machine tool. At the same time, the deformation error is detected by using three-coordinate measuring machine. Error prediction values and experimental results indicate that they have a good consistency and the proposed approach is able to significantly reduce the dimension error under the same machining conditions compared with conventional methods. The proposed machining strategy has potential in high-efficiency precision machining of thin-walled parts.