There's not a right or wrong, but there a point where you can get the complexity that the tea can offer without oversteeping. It takes practice, but if you
aim to use as much leaf as possible, without cramming it so much that the leaf can't open, and getting the leaf to open evenly (e.g., some completely open while the rest is barely open), can get you there with a lot of teas (wulong, at least).
Every tea is going to be different, though. Just keep at it, and don't be afraid to use lots of leaf (one good, satisfying pot is worth a lot more than two or three mediocre ones that left you questioning how to do it better, and you'll pay less in "tuition" in the end). You'll start to see what works and what doesn't.
After the first steep or two, steeps were un-rushed "flash" steeps, but I don't generally time my steeps or weigh leaf. I also keep everything as hot as possible -- even better when you're drinking at a fast enough pace to keep the pot hot between steeps.