The theoretical probability of getting one head and one tail is 50%
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Probability of getting a head or tail is not equal
The probability is 50-50.
1/2. There is an equal chance of the coin falling head up or tail up.
The probability of getting a head or a tail is, for all practical purposes, equal to 1. The only other possibility is that the coin stands on its edge - technically possible but so very unlikely that it can safely be ignored.
If you mean 1: head 2:tail 3:head the probability is 1/2 x 1/2 x 1/2 = 1/8. If you mean only that you want the heads and tails to alternate, that is, you mean the above or tail, head , tail, the probability is 1/8 + 1/8 = 1/4.