Not sure about the formula, but I believe that the minimum you should aim for is to exchange the entire volume of air every 3 minutes. This is just to ensure that the plants have enough fresh air, and doesn't take into account heat gains from lights etc, so in reality you would want to exchange more often, especially as you go up in wattage of lights. If you need to add a carbon filter or ducting, the number would rise again, since restrictions of any kind will reduce airflow.
As an example, my 250 HPS setup uses a 4" fan rated at 175 cfm. It's fast as fuck on it's own, but once I added the carbon filter and around 1 metre of ducting, with 2 bends, it gives me good airflow without being overkill.
As for your question on lighting, 2x2 feet is perfect for a 250 hps, 3x3 for a 400, and 4x4 for a 600. Height required varies depending on your growing style (scrog, for example, requires less height than untrained plants), but more height is generally desirable. I have about 6 feet of vertical space in my setup, but only use around 3 feet, since I am running a scrog.