My guild awards dkp per hour each member is in raid. I was wondering if there is a formula where I can put in the number of hours we raided that dungeon and it will add +4 per hour for every member that attends that raid?

Nope. What is typically done for hourly points is to simply take a snapshot every hour, and record that as a "raid." Then a destination is made called something like "Karazhan - Hourly."

So you might end up having something like 3-6 hourly snapshots per raid.

Is this still the case? Just curious, my guild is wanting to set up the same thing.