I would also add Slavonic mal "small", LAT malus "bad, deficient" and, perhaps, Skr. mala "dirt, filth" but I doubt that it may be related here. Can it be connected with "apple" as the symbol of the "forbidden fruit"?Also, this is exactly what the dictionary of Prof. Babiniotis says.
Note:<<μᾶλ(ον) was also Doric>>.
Just for the record there was also another μῆλον meaning sheep. According to the same dictionary this μῆλον traces its root to the I.E. term *(s)mel- (= browsing/pasturing small animal, mainly for sheep and goats).
Arm. mal (=sheep), Irish mil, Anc. Germ. *smala- (=small) <<Germ. schmal, Engl. small>>.