It's amazing how many different answers have been given to this problem! Some of them approximate, others unsupported, others simply incorrect. The "2/3" it seems, comes from comparing a (wrong) derivation using only the spatial geometry to a second derivation done right. Wikipedia's article pulls their result directly from a set of rotating coordinates, getting another wrong answer. Kip's discussion in MTW p1118 is presumably correct but is rather hard to follow and assumes the PPN approximation. I can't find anywhere a clean treatment. And the results are really quite simple and nice, so there they are.
The Kerr metric confined to the equatorial plane is ds2 = (r-2m)/r dt2 + 4ma/r dφdt - (r2+a2+2ma2/r) dφ2 - r2/Δ2 dr2 where Δ ≡ r2 - 2mr + a2.
For a particle moving with coordinate angular velocity ω = dφ/dt we have γ2 = 1/(1 - (r2+a2)ω2 -2m/r(1-aω)2)) and radial acceleration A = Δγ2[m(1-aω)2 - r3ω2]/r4. For a particle in orbit we would have geodesic motion, A = 0. You'll notice that this condition is a quadratic, generalizing Kepler's law and implying two different roots for ω, one for revolution in the same sense as the Kerr rotation, the other for the opposite sense.
Now if you have a gyroscope attached to the particle, with spin given by a spacelike unit vector S, the components of S will vary sinusoidally, S ~ sin Ωt. If Ω = ω, the spin axis would point in a fixed direction in space and there would be no precession. So the difference between Ω and ω measures the precession. Here's the really beautiful result:
Ω = γ2ω - 3γ2ωm(1-aω)/r + γ2ma(1-aω)2/r3
The first term is the Thomas precession, the second is deSitter, and the third term is the frame dragging. Again this formula covers all the bases - you can restrict it to orbital motion if you want, or you can just set ω = 0 and get the effect for a particle sitting at rest on the Earth's surface.