As a verb, flounder means (1) to struggle or move with difficulty, as in mud; or (2) to behave awkwardly or make mistakes. One who flounders does not fail completely but merely struggles. Founder means (1) to cave in, (2) to sink below the water, (3) to fail utterly, (4) or to go lame. Foundering usually involves utter failure.
Examples
So these writers use flounder well:
His progress in creating a more moderate image will flounder if, as expected tomorrow night, he proposes more and more spending. [Washington Post]
If the Eagles flounder next year, especially on defense, look for more eyebrows to be raised at this puzzling move. [Delaware County Daily Times]
Parallel to this is the fact that the so-called peace process continues to flounder … [Jerusalem Post]
In the second example, flounder comes dangerously close to founder. If the writer means the word as a synonym of struggle, then flounder is appropriate. If the writer means it as a synonym of collapse or fail, then founder would be better.
These writers use founder well:
Last week, in the latest move to right BSC’s foundering financial ship, the school’s board of trustees pledged to raise money to make up the gap … [The Birmingham News]
These programs make so much sense that a bill extending all three passed the House on Dec. 15 on a voice vote, only to founder in the Senate. [New York Times]

