Having grown up and now living in the Chicago area, I keep trying to visualize a half a million air cars trying to occupy the same air space at the same time. It just does not compute. Much as a like H. Beam Piper, I am not sure about air vehicles for everything.
I can imagine it as in SW Phantom menace, where the Capital is depicted with all the flying cars traffic on it.
My guess (maybe quite optimistic) is that different heights for different vectors would make it simpler tan today's ground traffic, as long as traffic control is effective and drivers obbey it (and that probably means serious punishment for those that don't).
In any case, again my guess is that mass or public transport would me how most of the people moves in large metrópolis, while most of those grav vehicles would be for out city travel, mostly where mass transport does not reach.