Mate, as far as the formal bit of toasting and possibly grace goes...ask your PMC or Sqn Boss.
However, the after-dinner bit is really up to you.
Assuming it is a RAF dining-in, you will be expected to provide some entertainment after the top-table has left for the bar. Jokes/stories are good, but be expected to be boo'd or have food thrown at you.
A good plan (seen recently) is to go up armed. i.e. take a waterpistol to shoot anyone that gobs off at you.
I'm sure lots of people will offer you plenty of advice. Have a good one!