It would be the same rules as the 2000 Expansion Draft. You could protect 1 goalie, 5 defensemen, and 9 forwards, OR 2 goalies, 3 defensemen, and 7 forwards.
To Quote Wikipedia on the rules from 2000: (years changed)
For teams protecting only one goaltender, there is no experience requirement for those left unprotected. For teams protecting two goaltenders, each goaltender left unprotected must have appeared in either 10 NHL games in the 2011-2012 season or 25 games in the 2010-2011 season and 2011–2012 seasons combined. A goaltender had to be in net for at least 31 minutes in each game for the game to be counted against these totals.
At least one defenceman left unprotected by each team had to have appeared in at least 40 games in the 2011-2012 season or 70 games in the 2010-2011 season and 2011-2012 seasons combined. At least two forwards left unprotected by each team had to have met the same requirements.
Just really trying to see if we'd have enough people to do this, but it would be a total of 30 people. Your team would still be limited to the cap/floor.
Once all 30 teams selections are done, each of us would go through the lists, and make our own team based on who would be available. Once your selections are done, you'd enter it in on the capgeek calculator, and see who chose the best team
I'll take an expansion team. Are we also going to do the 2013 draft?
I actually removed the expansion teams, as I thought it would be a bit more fun if EVERYONE had the opportunity to make their own expansion team, and make selections based on what other people chose to protect. However, if it would get more interest with 2 expansion teams, I'll save a slot for ya.
As for the draft, I'd be down for including it if people will commit. Either way, I'd be down for a 2013 Entry mock draft afterwards.