There are calculators online to help with this, but I find that they differ wildly on the prediced yeast.
I just did this with an older vial of yeast (about two weeks from the White Labs "best by" date). I did a 1.5 liter starter, followed by what ended up as an almost 3 liter starter.
I decanted the most of the second starter before I pitched, dropping it down to about 1 liter of fluid.
Note that I did everything else that I could for it - I used yeast fuel, I used pure O2 for aeration. I had visible activity in just over two hours after pitching, so I'm feeling really good about this batch (steadily bubbling away as I type).
Yeah, there are diminishing returns; you'll only get so much yeast out of each starter, but again, the calculators really vary on just what you'll get. I would think that if you follow a similar path to mine, you'll end up with plenty of yeast.