A volume pot has all three of its connection tags used as it's being used as a potential divider. A tone pot has just two of its tags used as it's being used as a variable resistor and is used in series with a capacitor.
Capacitors normally have the value marked on them, so you just need to be able to understand what part of the writing is the value and what is the manufacturers' code. Occasionally capacitors do have values written in coloured bands like resistors do and here's a web site explaining those.
http://www.electronics-tutorials.ws/...tor/cap_5.html
If you are referring to 'orange drop' capacitors, then these are just a range of good quality, reasonably high tolerance capacitors made by Sprague, that just happen to be bright orange and generally about the size of a small sweet. They have the capacitance values printed on them.
The value of capacitor you use partly depends on the pickups you are using and partly on how bright the pickups are. The higher the capacitance value, the more treble is taken from the signal at full tone reduction. Brighter pickups like jazz bass single coils might have a tone capacitor of between 0.047uF and 0.1uF (micro-Farads). A slightly duller pickup like a P-bass probably would stick with a 0.047uF capacitor. A passive MM type humbucker might be between 0.033uF and 0.047uF.
It's easy enough to Google what the standard capacitor value is for a particular type of bass, or look up wiring diagrams for them on say the Seymour Duncan site.
If you switch to active pickups/circuits, then the tone controls are generally active and it's all built-in. If not active tone controls, then again, look at the pickup manufacturer's wiring diagrams and they will give you their recommended values.