I love Khans of Tarkir. It was the set that came out when I first started playing at FNM, and I didn't realize it at the time, but the higher set complexity, chiefly due to the morph mechanic, and interesting choices both in deckbuilding and ingame left the set as one of the best draft formats of all time. I do believe this to be the definitive set where Magic did multicolor right. In draft, there were 10 common taplands, there were 5 uncommon tri-lands, and 5 rare fetchlands, leading to 3, 4, or even 5 color decks. The addition of morph also made it so that you could more readily splash a fourth color, since cards with morph could be played as a 3 mana 2/2 no matter what lands you have. However, drafting a two-color enemy deck could still be strong, since it was often very consistent and could win on those bounds. Even fringe ally-color decks were possible, such as UW flyers/control or the much-beloved Bear Punch deck.
The lore and setting of the plane also interested me a lot. Since I was a new player, I think the lore appealed to me more than it should have, and it led to the creation of a really janky Jeskai deck complete with every card with the watermark. I thought that the introduction of the enemy color really made clan card design and lore feel more unique than just regular allied colors, which was definitely something that I felt that Dragons of Tarkir let down on.
I initially started off with a 3-2-1 consistency, but I changed it a bit to make it 360 cards and have 264 commons, 72 uncommons, and 24 rares/mythics. This most accurately simulates the sealed booster pack experience. I decided to shift around the number of each common to make the draft better, such as cutting down to only one Shatter, Naturalize, and banners in favor for stronger commons like the Abzan Guide cycle of morphers. As for the cuts I made, I decided to not go for overbearing rares like Ankle Shanker, cards that feel bad to open like Deflecting Palm, Altar of the Brood, or the fetchlands. I also had to tune the power level of the clans a little bit. I found that in draft white and black were a little more powerful than anticipated, so I ended up cutting a few more consistent warrior support cards in favor of stronger Jeskai cards, since Jeskai decks were difficult to draft on account of non-creature to prowess creature balancing.
As for cycles in the cube: it runs at least 1 of every common in the set, runs 4 of each 6 mana common clan morphers, 4 of each common card in each clan's main color with its respective mechanic (there's actually two so I just chose the best one, for instance I chose Savage Punch over Feed the Clan). I also am running each of the charms, banners, and each of the two enemy-color 'pack one' uncommons (see Highspire Mantis and Ride Down).
For lands, I went with 3 of each enemy tapped gainland and 2 of each tri-land and ally gainland. This may be subject to change, since I don't want every game being a 4-5 color mess, but I do think that at least 1 land being in the pack about 80% of the time is where I want to be.
That's it, have fun!