Not as simple as it would seem. Depends on grow medium , grow room environment, type of timer you have, strain, and other variables.
In hydroton, with a 15 min increment timer, I flood 3 times during light, none in dark. At lights on, 5 hours later, and 5 hours later for 15 minutes each.
In rockwool with the same timer, I flood twice in light. Once at lights on, and once 8 hours later.
I like fast draining as well. I usually use 1/2 inch tube to flood and drain through same hose, so it empties pretty quick.
I haven't done flood & drain in a while tho as I felt there was too much equipment involved(tables, pumps, reservoirs, slabs, etc.) so take this with a grain of salt. There's probably better advise available from people who do flood & drain currently.