Ok...If I read correctly you are doing freshwater dips and the putting him into a tank with formalin? This is not good for several reasons, one is that it deplaces the O2 in your tank and it is a carcinigin...you should be dipping with a formalin bath and ro/di water and the putting him/her in the hospital tank that is either normal or slightly lower salinity.

Here is what you should be doing as far as freshwater dips

1. Get your R/O water ready. 1/2 gallon will do.

2. Add baking soda gradually to bring the PH up to about 8.2 (or whatever your tank is). I find that 1/4 per gallon is just right. That would be 1/8 of a cup for 1/2 a gallon.

3. Warm up the freshwater to the temperature currently in the tank.

4. Throw in an air stone.

5. Drop the fish in and wait exactly 15 minutes, gently stirring the water to keep the fish moving somewhat.

6. If the first dip doesn't work, do the same procedure 24 hours later, but with formalin.

Since you already have done the freshwater dips you should start doing the formalin baths...here is a great artical for more detailed info
http://216.168.47.67/cis-fishnet/seascope/99SS1601.htm

the clown is probaly stressed out right now so I am not sure if you should wait 24hrs or not, that will have to be your call.