First question is the volt meter accurate?
First point I'd like to make is: The AEM outputs 0.5 to 4.5V. Not 0-5V. So that will throw off the scaling.
My experience was simply keep adjusting it until the displayed value matches the value on the gauge. In short, voltage based measurements suck, especially when you are unable to calibrate the output.
are you sure of this .5-4.5 ?
http://www.schnitzracing.com/manuals/AEMWBK.pdf says 0-5
Gauge
Supply Current (nominal): 1.3 amps
0-5V Analog Outputs: 1
Measuring Range: Sweeping LED 0.751 to 1.143 Lambda
Measuring Range: Numerical Display 10.0:1 to 18.5:1 AFR Gasoline
Harness & Connector Temp Limit: 105C
Sensor
Type: Bosch UEGO LSU4.2
Accuracy: +/- 0.7%
Exhaust Temp Limit: 1030C
Cable & Protector Sleeve Temp Limit:250C
Connector Temp Limit: 120C
Initial Warm-up Time: Less than 20 seconds
Weight: 80 grams
Heater Current: 1.2A at 12.0V (each sensor)
Mounting: M18 X 1.5 thread, Torque to 30 ft-lbs
80,000 km for Unleaded Fuel
50,000 km for Leaded Fuel 0.15g Pb/l
20,000 km for Leaded Fuel 0.40g Pb/l
Nominal Service Life:
10,000 km for Leaded Fuel 0.60g Pb/l
So pretty much enter 0-5 in step 1. 10-18.5 in step 2.
formula gives me .588235294
So under function enter
([PID.2811]/0.588235294)+10
Then scale 10 to match if its off?