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I have some very heavy code to develop and want to make some calculations beforehand.
Now I’m trying to make a very rough estimate with MIPS, but can not find anything about what MIPS actually stands for. Is an instruction a single bitwise operation/comparison in MIPS?
The best thing you can do is to run your algorithm on some (much) smaller set N. If you can estimate the complexity of your algorithms, you can then estimate how fast it will run for the full dataset.
MIPS is not a good way to go; in most algorithms, CPU spends more than half of time waiting for caches/RAM anyway; only small set of problems allows for very good analysis on how is memory going to be used (e.g. matrix operations) and can be tuned to use CPU efficiently.