Either the entire idea behind the formula is wrong, or I'm forgetting something really simple.
... well done: the entire idea behind the formula is wrong.
More accurately, the reasoning that lead you to the formula was flawed. Happens to the best of us.
Best to start again. Let me know where I lose you...
You want to find the distance that an object stops in, given:
m: mass of the object
u: initial speed
A: cross-sectional area
C: drag coefficient
##\rho##: air/fluid density
It is important to understand the equations you use.
1. The proper drag force equation is: ##\vec F= -\rho CA v\vec v##
The minus sign means that the force is in the opposite the direction to the velocity.
The magnitude of this force is ##F=\rho CA v^2## ... which is the equation you used.
In that equation:
##\rho## is the density of the air, not of the object that is moving;
##v(t)=dx(t)/dt## is the instantaneous velocity at the instant of time ##t##.
... this is very important because the velocity is always changing, and not in a simple way.
This means that simple averages like you tried are not going to be very good.
This also means that the drag force is not a constant.
Note: it is inconvenient to use "d" for "distance" because I want to be able to use it for calculus notation.
So let's call the stopping distance "b" .. (a "d" backwards).
2. Work: ##W=-\int_C \vec F(\vec s)\cdot d\vec s## ... this is the full equation for work moving against the force ##\vec F##.
It is what happens to "force times distance" when the force is not a constant, and may point in any direction wrt the displacement.
Here ##\int_C## means you integrate over the path taken, ##\vec s## is the displacement vector in general coordinates, and the dot is the vector dot product.
In your case, this simplifies to: ##W=\rho AC \int_0^b v^2(x)\; dx## ... which means the object starts at x=0 and ends at x=b and has to push against F.
3. Conservation of energy:
The loss in kinetic energy is equal to the work done pushing through the air (work against drag).
##\frac{1}{2}mu^2 = \rho CA \int_0^bv^2(x)\; dx##
... and this is the equation you have to solve to find b.
Alternatively:
4. Newtons Laws:
##\sum \vec F = m\vec a## ... this is actually a differential equation, because ##\vec a = \frac{d}{dt}\vec v##
We have one force so: ##-\rho AC v^2 = m\frac{d}{dt}v## you also have initial conditions ##x(0)=0## and ##v(0)=u##
(again the minus sign is because the force is opposite the velocity)
... solve this for ##v(t)##, then find ##T: v(T)=0##, then ##b=\int_0^T v(t)\; dt## or something.
How good is your maths?