Calculations in shipping price & Code in shipping notices

Can I set a shipping price calculation for this product?

A product that is sold by the pound I’d like to add calculations for shipping price to be $2.55 per pound. Is this possible?

Also, is there a resource for types of code that are allowed to be entered in the shipping notices? Html? If so, do you guys have a key or resource for common code commands?

The page I need help with: [log in to see the link]