[PantsOnFire]

I would do this:

Red=5
Green=25
Black=100
Blue=500

You can now use 5/10 as your starting blinds. A good tourney is 100BB and a deep stack tourney is 250BB. So for a deep stack tourney (usually preferable by good players) I would start the chips per player like this:

5 - 15
25 - 13
100 - 6
500 - 3 (you can have 0-3 chips here depending on what starting stack you want which will have a bearing on how long the tourney lasts)

Blind Structure

5/10
10/20
20/40
30/60
Break (remove red chips)
50/100
75/150
100/200
150/300
Break (optional remove green chips)
200/400
300/600
etc.