I am looking to create an event in Milestone and trigger it via API, SDK or other if there is an option. The event will need to disable alarms. Is this possible?

The easiest way is to use test event. Please see below instructions.

Start Management Client –

Tools - Options - select Analytics Events tab. Check on Enabled and click OK.

Add an Analytics event and click Test Event.

If you want to see the triggered event, start Smart Client. and go to Alarm Manager tab.

Select bottom list and go to Setup mode.

Select Event to see all events in the list and escape from Setup mode.

Then you will see all events.