The 'rule of thumb' is 2.5 ounces per pound of body weight so in your lo's case it would roughly be 2.5 x 17 (lbs) which gives around 42.5 ounces per 24 hours. This is only a rough guide though and your lo may need more or less then this. I would maybe offer a 6 or 7 ounce bottle and see how he goes. If he drinks less than that amount then offer an ounce or so less. If he consistently drains the bottle then offer an ounce more in each.
My formula fed ds fed more or less 3 hourly until he was about 16 weeks old and then dropped back to 4 hourly. I didnt start solids until 23 weeks (and he was a big lad too - at 16 weeks he was 17lb 10oz and at almost 26 weeks he was 20lb 13oz).
Dont worry too much about overfeeding. Babies are good at regulating their own appetites (unlike us!) and will leave what they dont want.
Seona