My suggestions would be:
1. Make no assumptions you don't absolutely have to make.
2. Ask if someone associated with this dam has already done these calculations
3. If not ( which seems highly unlikely !) go to Step 4
4. Model this in HEC-RAS using the actual shape of the conduit; NOT the "equivalent pipe size". Note that HEC-RAS will tell you whether the outlet is flowing full, part full or under pressure based on the Laws of Conservation of Energy, Momentum and Mass. Do NOT use the Hazen William Equation which is only valid for water at normal temperatures, flowing full, with turbulent flow conditions throuhout a Circular pipe. It is suggested you use a Manning's n of at least 0.013 for the concrete conduit. You may want to try other "n" values if you have some way to field check your results.
5. Do a series of HEC-RAS steady flow runs starting from 0 cfs to 500 cfs in 50 cfs steps.
6. Plot the results. Plot flow vs headwater depth.
7. Based on this plot, expand the range of flows, if necessary, until the headwater depth reaches 68 Feet above the conduit invert or the dam is overtopped. Again plot all the data. This will give you what is called the "rating curve" for this outlet.
8. If at all possible, find a way to field check you results.
9. If at all possible, find a way to field check you results.
Good luck