public float basicTimeUnit;
public float baseFactor;
public float factorProgressTarget;
public int currentExponent;
public int exponentLimit;
public long nextConnectTime;
public double waitTime;

then the method would be :
public void setNextConnect() throws TimeExceededException
{
float progressEachIteration=(baseFactor-factorProgressTarget)/exponentLimit

float progressedFactor=baseFactor-(progressEachIteration*currentExponent);

waitTime *= progressedFactor;

nextConnectTime += (long)waitTime
}