One subject not explored by many of the fans and never explored by the producers was the internal organization of a squadron. There must be some structure or you would simply have a mob. On screen we see formations of two, four and eight, also from the series we see Galactica launch groups of thirty-two fighters, in two waves, in response to an attack.
From this the following squadron structure could be derived.
Element = 2 Vipers, one leader and wingman.
Flight = 2 Elements (four Vipers in all).
Division = 3 Flights (12 fighters).
Squadron = 3 Divisions (36 fighters) + 1 for the squadron leader.
While assigned to man the alert fighters a squadron would provide 8 Flights or 2 1/2 Divisions. The balance of the squadron would provide recon fighters and pilots.
When a Battlestar is deployed 2 squadrons would provide defensive cover while any other squadrons on board would provide for offensive operations.