There is a good article that Bob Nuckolls wrote on the topic. You can find it here:
http://www.aeroelectric.com/articles/wiresize.pdfBob likes to keep his losses under 5%.
Also AC43.13 chapter 11 tells us acceptable voltage drops for aircraft. For a 14V system, they are ok with a half volt continuous or one volt intermittent.
My Whelen nav/strobe has 4 wires- nav power, strobe power, power ground, and synch. The strobes pull 5.2A when on, but only average 1A. The nav lights pull 0.48A. For the Waiex I estimate a 26' round trip for the wires. For 16ga wire, the drop to the strobes is 0.68V and the percent loss is 4.9%. This assumes the nav lights are on too, which makes for a bit of additional voltage drop on the shared ground. For 18ga the numbers become about 0.85V and 6%, which should be ok. For 20 ga it goes to 1.4V and 9.5% losses.
My landing lights are 0.68A and 22 ga is good with 0.4V/3%.
I plan to run 2 conductor 16 ga (2C/16) for the strobes. I will run 2C/22 or 20 for nav and synch. I had some 1/4" OD poly tube which fits nicely in the tooling holes, but this will be tight with 2C/16 and 2C/20 run together. I will likely upsize the aft holes for 3/8" OD tube. I will run my 1/4" poly in the front holes and 2C/20 or 22 for the landing light.