I would recommend a good running watch with heart rate monitor.
If you want to do 1.5 miles in 10:30, that is a 7min/mi pace. Running watches will display your current pace. There is usually a feature of a virtual running partner so you can compare your current pace to a designated pace.
You can run all the sprints you want, but if your sprint pace isn’t what you need to reach your goal, it doesn’t matter much. Rather than “I am going to run 1.5 miles in 10:30 minutes,” look at it as “I have to maintain average pace of 7min/mi for at least 10:30 min.”
Heart rate is useful to gauge the state of your body. It is like the tachometer to a speedometer in a car. I ran marathons for six years. There were some days when things are good or bad, and HR showed it. If I had a long run on the weekend, the Tuesday run might feel OK but the HR was up showing that maybe some recovery time was in order. Likewise on a cool, rainy day, you may be right on pace or a little faster, and see that HR is down compared to hot, sunny days.
Also, your 1.5 miles is basically half of a 5k. There are jillions of “better your 5k” training plans around. Get one from a reputable coach/source. It is a lot better than the “I’ll go to the track today and see what inspires me” approach. As with marathons, you get a 12 week calendar, and do what is scheduled for each training day. Plan your work, work your plan.
It is not all cardio, especially in the shorter, faster distances. Strong bodies are faster bodies within reason. Leg strength will be helpful.
Finally, especially when starting, go slow. Again, it is not all cardio. All the bones, ligaments, tendons, etc. need some time to acclimate. There is more than one runner sidelined by stress fractures or feet problems because they were focusing more on speed and distance than getting the wheels in shape.