As in, how much defense do I have to have before attacks that would be damn near lethal become nothing more than a flesh wound, losing maybe 2 or 3 pips at the most instead of 8 or 9 from a single blow?
How much defense do I need to achieve this, because so far I've seen no meaningful mitigation from my defensive values.
Yes, defence is quite weak. If you wanna get anywhere with it, Drakon's Flame Barrier is a must. If you're looking for normal defence, you can get 301 from Ancient Plate and 201 from Volcanic or Ironmight on Depth 25 (values for other depths are unknown). Bear in mind, these do not have good specialised defence. If you're looking for that, the most powerful sets are of course Royal Jelly/Ice Queen, Dread Skelly, and Grey Feather. The sets with split specialised defence have decent amounts, too. That said, defence is generally pretyt worthless in this game unless you're investing in it wholeheartedly.
Lastly, I'd like to point out that poison weakens the damage your enemies inflict. If you want something really interesting, use Obsidian Crusher in combination with Scorching Barrier and you'll see what's more or less the only way to tank in this game. The damage should be decent as well.
EDIT: I forgot to point out, you should most certainly read the wiki page on defence if you haven't done so yet.