The standard formula T = 0.2FD should still be valid for those threads, if lubricated (Shigley, Mechanical Engineering Design, 4th ed., McGraw Hill, 1983). Without lube, the coefficient goes from 0.2 to roughly 0.8 (one of the reasons for using lube is to get rid of the "roughly" part).
My Machinery's Handbook, 19th ed., gives tensile stress area for a size 0-80 UNF thread as 0.00180 sq. in. No listing for size 00 threads, though, sorry. Sizes below "0" are listed in standard UNM (Unified Miniature Threads), in mm units.
Take allowable proof stress for the material (typ. 80-90% of yield), multiply by Atensile to get F in lbs., plug into equation using D in inches, and calculate torque (in-lb).
That equation works in about 90% of all cases. As diamondjim notes, though, there are a lot of other things you must consider, even if they can be neglected in final analysis.