If you take one thing away from this post, make it this. Each airline may (and probably will) have different definitions of PIC time as well as how they make adjustments for military logged times.
Based on my experience, there are two major parts to the mil to airline flight time puzzle. The first is what you're alluding to - making our T/O to landing times compatible with the civilian dudes applying for the same job. So, some airlines allow a conversion factor per sortie while others may allow a percentage of total time. But that's an airline specific option and not something put forth by the FAA as a method for all military pilots to "civilianize" their times in the same way. My point here is, there is no way for you to take your military times and "convert" them to civilian times once. You're going to have to figure out what kind of adjustment each airline allows (if any) and make your times specific to that airline.
The other part of this is what each airline considers PIC time. They don't necessarily comply with the FAR definition of PIC. So, once again, you're going to have to scrub your sorties and make adjustments to match what Airline X had decided they want to call PIC time which may not be the same as Airline Y. One airline I applied to would only accept PIC time post UPT graduation (i.e wings on chest) when I was the one signing for the aircraft and ultimately responsible for it. That eliminated all student solo UPT time and any dual F-15B/D time during RTU, MQT, etc with an IP on board. These days, the most common criterion is PIC = you signing for the aircraft. Some may argue that dual rides in a fighter where you're flying with an IP in your trunk could count as PIC using this rule. I would counter that the IP is the one ultimately responsible for the aircraft even if you're the one who decides to sign the forms. It never hurts to be conservative and a few hours one way or the other aren't going to matter unless you get called out on them during an interview by someone who decides to nit-pick. The heavy guys run into lots more issue when it comes to figuring out what meets an particular airline's definition of PIC. I can't even begin to offer advice there.
The bottom line is, scrub your mil times and make sure they're as accurate as possible. Get a sortie count so if they allow a per sortie conversion, you can easily apply that. Figure out what meets each individual airline's definition of PIC time. Put an airline specific cover sheet inside your AF flight records for each interview that provides specifics on your math and how your determined your totals. Don't waste a bunch of time trying to write them into a logbook. If you want to use a logbook program or spreadsheet to help with the math, that's your option but it's really not necessary. Airlines don't care if you have your military time in a logbook. Frankly, manual, written logbooks have gotten mil guys into trouble on occasion. One that a guy's been keeping since UPT with accuracy issues or notes about a particular sortie that raise eyebrows can create unnecessary discussion topics in the interview. I know of one guy who decided it was important to advertise his logbook as one he had been keeping since he began in the military (even though that wasn't actually the case). When questioned about that, he stuck to his guns and swore had had been keeping the logbook since he started UPT. The problem was that all logbooks have a copyright date in the front. His first sortie in UPT, dutifully logged in said book, occurred about 10 years before the printed copyright date. So, they showed him the door about 10 minutes into his interview.
Keep it simple. There are enough challenges and pitfalls to the transition, so don't make it harder than it has to be.