that's pretty much it
Most cutoff wheels (including dremels) will attach to a regular power drill. If you mean one of the fancy quick-attach hex power drills fashionable these days, there are adapters intended to be used for old-school drill bits which will work for cutoff wheels. They're trickier to use then when on dremel style tools (for obvious reasons) but I've used them that way plenty of times with no particular problems other then bulkiness.
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You first must find a hex mandrel that will fit your cordless drill because round mandrels will NOT stay in the drill as it keeps loosening up. Once you find this mandrel then you can use the cutoff wheeels.