How do you calculate caps for voltage regulator circuit
There is a wide latitude.  In a big enough design where I'm using various size caps already, I usually use 10 &micro;F on the input of such a regulator and 1 &micro;F on the output.  You can get away with a lot less, but there is little harm to having more, especially on the input where more is better from the regulator point of view.

The cap values have little to do with current, since for a ideal regulator and battery the voltages on them would not change.  The purpose is to make the lines look low impedance at frequencies high enough that the active circuitry can't handle.  The output cap is also part of the feedback loop of the regulator, and different regulators have different requirements.  A 7805 will be fine with 1 &micro;F ceramic close to its output pins.  Other regulators may have specific requirements, including some minimum ESR for some of the older low-dropout types.

So the real answer is to read the datasheet and make sure you meet all the input and output cap requirements.