How do I take an email field in one table to write a look up and based off that create a formula?

The way this is done in Quick Base is via a relationship and lookup fields.  But to look up data from table 2 into table 1, you will need to be able to set the Key field of table 2 to be the email field.

The email  field in table 2 will need to be unique and non blank in order that Quick Base will allow you to change the key field to be the Email field.