You don't use lists or points. Just field historic formations set a mission and go for it. There's no such thing as balance in aerial combat.
Seriously it takes a bit of trial and error to work through. Pilot quality is more important than numbers of aircraft a lot of the time. Things get a bit easier when the Britsh switch to the use of 4 aircraft fighter formations which the Germans were using from the start of the War.
Some of the TFL Specials have BTH scenarios which would give you some ideas. Joe Legan's Squadron Forward supplement available from TFL is also excellent for generating scenarios including for solo play.
John