Mix the ingredients in a large bowl, because it will boil up.
This mix is basically an oxygen generator.
It is the oxygen which reacts with the thiols in the skunk stink to neutralize the odor.
Use it immediately. If it sits around, it will loose it's efficiency because the oxygen boils off.
Would your recipe be safe to use on dogs? Ours get "skunked" every now and then and I've tried lots of things, but nothing works.
The formula you gave is for Krebaum's Formula, but you got the proportions wrong. The actual formula is:
1 quart hydrogen peroxide 3%
1/4 cup baking soda
1 teaspoon liquid detergent