Back in '12, FSM posted this video by Aaaron Skinner where he demonstrates how he thins paint for airbrushing. Sadly, it appears the video link might be dead. Can anyone find a way to bring it up?
It has been my thinning method since I first saw it.
Trying to describe what he said, dip a little stick or something (I use a flat toothpick) into you paint. Transfer a dab of paint to the side of your vessel (I mix in my paint cup, sorry, your vessel might be a mixing jar). If it sticks to the side, it is not thin enough. If the dot of paint breaks down and runs down the side, it is correctly thinned. Don't thin any futher.
It has worked well for me.