Personally,

If you have workers who are in a position to need to take red-eyes back, I would leave it up to them to decide on when, and how much, to work in a day. Basically, assume it's a lost day and anything else is a bonus.

Here is my reasoning:

If I am taking a red-eye back from the West Coast, it is usually for a business reason. Otherwise, I will just wait and take a flight the next day. A red eye is a pain in the rear, and I don't care if you are in Y or F, it still stinks.

If my company were to tell me when I had to come in to work after a red-eye, I would just stay an extra night and come in the next day. It wouldn't make sense to take a red-eye.

By letting me set my own schedule, I am more willing to take a red-eye than otherwise.