Hey jared, are you talking about the harmonic squeel/scream sort of dive bomb? Because a standard dive bomb is simply done by playing a note then pushing the whammy bar down. I believe a dimebag style squeel is done by playing a artificial harmonic then proceeding to dive bomb the note.
So, in a nutshell (to follow on the video), the natural harmonics you find by picking and lightly touching the string over the 5th, 7th, and 12th frets actually occur all over the neck, the others are just more EXACT in where you have to touch them. The closer it is to the nut, the higher the pitch will be. There's a great one for the Dime style stuff Syn alluded to about halfway between the 2nd and 3rd frets, and it's easiest to find and enjoy on the G string (the thickest of the plain steel strings). It's also easier to hear with high gain/distortion. So try around, find your high harmonic, then wiggle your giggle stick to make the sounds you want, including the dive bomb.
Essentially what a divebomb really is is a natural harmonic and a dive with the whammy bar. You can find natural harmonics all over the neck, simply hover your finger over the string without pressing down and play it. A good starting point are 5th, 7th, 9th fret on the g string or 12 the fret on any string. You have to hover over the string where the metal things are located.
Hope that's clear, if not give me a about and I'll try to explain it in a video.
Time to do a little bit of self-promotion I LOVE divebombs, so I practice it pretty often and I made a tutorial for the School about what I learned on the subject, maybe you could learn a thing or two.