From  
www.netaces.org You should check it out.
^ - up (as in Up at Bol) 
* - degrees (heading) 
109 - Bf 109 (aka Me109) fighter, usually a G-6 or G-10 
109F - Bf 109F-4 "Friedrich" fighter 
109G - Bf 109G-2, G-6, or G-10 "Gustav" fighter 
12 or 12 o'clock - straight ahead 
17 - B-17 "Flying Fortress" heavy bomber. 
190 - Fw 190 "Butcher Bird" fighter 
190A4 - Fw 190A-4 
190D - Fw 190D-9 
202 - Macchi C.202. fighter 
205 - Macchi C.205. fighter 
26 - B-26 "Marauder" medium bomber 
3 o'clock or 3 - on the right 
38 - P-38L "Lightning" fighter 
47 - P-47 "Thunderbolt" fighter or C-47 "Dakota" transport 
51 - P-51 "Mustang" fighter 
6 o'clock or 6 - rear 
666 - Danger on you 6 o'clock 
88 - JU-88 medium bomber 
9 o'clock or 9 - on the left 
A4 - Fw 190A-4 
A8 - Fw 190A-8 
aa - anti-aircraft fire 
aaa - anti-aircraft artillery 
a/c - aircraft 
ack - fixed anti-aircraft emplacement 
affirm - yes 
afk - away from keyboard 
afu - All F...ed Up 
alt - altitude 
a/p - auto-pilot 
auger - crash 
auto - auto-pilot 
away - bombs or troops have been dropped. "Troops away!" 
bail - bail out of plane 
bak - back at keyboard 
bandit - enemy aircraft 
bcnu - be seeing you! 
bcn y'all - be seeing you all! 
BDA - Battle Damage Assesment 
 - Big Grin 
bh - bomber hangar 
bingo - out of something (as in Bingo ammo) 
bish - Bishops. One of the three countries in Aces High 
bof - big ol' frown 
bogie - an unknown aircraft in official Air Force speak, but usually means an enemy aircraft in the arena 
book - depart the vicinity 
brb - be right back 
btw - by the way 
buff - bomber 
bus - C-47 
bzy - busy 
cap - Combat Air Patrol.  Usually means you are covering a field or enemy over field 
cc - confirmed, affirmative, yes 
check6 - look behind you 
chog - F4U-1C. Corsair equipped with 4 x 20mm Hispano cannons 
cf - Cluster F... 
con - icon.  Type and range of aircraft displayed  in the cockpit view .  "con a B-17" 
con range - within range to see an object's icon. In Aces High, 6k for planes, 3 for ground vehicles. 
contact - pilot has visual contact 
cv - aircraft carrier 
cya - see you; as in see you later 
d9 - Fw 190D-9 
dar - Radar.  Also used to say you have something on radar.  "dar a B-17" 
ded - dead 
Dhog - F4U-1D Corsair 
discoed - Disconnected from game 
ditch - land somewhere other than an airfield 
dogfight - air-to-air fighter engagement 
doors open - bomb-bay doors opened 
dora - Fw 190D-9 
dorka - Fw 190D-9 
draggin(g) - leading the enemy (usually towards friendlies) 
drunks - paratroopers 
dry - no ordnance onboard 
DT - drop tank 
dump - disconnected from system 
dweeb - new pilot 
dweebfire - Spitfire 
e - energy or east 
egg - bomb 
enema - enemy 
f4 - F4U Corsair 
f4f - F4F Wildcat 
f6 - F6F Hellcat 
F8 - Fw 190F-8 fighter/bomber 
feet dry - crossing the shoreline from the water side (now over land) 
feet wet - crossing the shoreline from the land side (now over water) 
fh - fighter hangar 
flak - anti-aircraft fire or Flak Panzer (Ostwind) 
flak panzie - Flak Panzer (Ostwind 
form - join a formation 
fort - B-17 (flying fortress) 
fp - Flak Panzer (Ostwind) 
fpm - Feet Per Minute 
fr - Frame Rate 
fubar - f...ed up beyond all recognition 
furball - multi-ship dogfight 
fw - Fw 190. Often followed by model; FwA4, FwD9, etc 
 - grin 
ga - Go Ahead (as in permission to speak) 
glider - engine out 
goon - C-47 
gooney - C-47 
hail - hello 
hawg - F4U 
hdg - heading 
heavy - carrying bombs/rockets 
Hellcat - F6F Hellcat 
Hellkitty - F6F Hellcat 
hog - F4U 
hold - loiter at location 
hvy - carrying bombs/rockets 
ias - Indicated Airspeed 
ib - inbound 
in - notice that pilot is engaging 
in scope - bombing target visible in bomb-site 
imho - in my humble opinion 
imnsho - in my not so humble opinion 
j/k - just kidding 
jabo - fighter/bomber; can refer to the plane or the mission. 
join - join a formation 
jug - P-47 
k - thousand (also used in place of okay) 
kilt - killed, died 
kite - A6M Zero 
knit - Knights. One of the three countries in Aces High 
la5 - La-5 
la7 - La-7 
lanc - Avro "Lancaster" heavy bomber 
lining up - bomber readying for bomb run 
lite - no bombs 
lmao - laughing my bellybutton off 
loc - location (usually a request) 
log - exit game 
lol - laughing out loud 
m3 - M-3 halftrack capable of carrying troops or supplies 
m8 - mate (as in friend) or M-8 "Greyhound" armored car 
m16 - M-16 Machine Gun Carrier. M-3 with quad .50 cal machine guns for anti-aircraft work 
milkrun - unchallenged bomb run 
mossie or mossy - DeHavilland Mosquito 
n - north 
neg - no, negative 
nik or niki - N1K2-J 
np - no problem 
on scope - bombing target visible in bomb-site 
ostie - Ostwind. Panzer Mk IV chasis with 37mm flak gun 
otw - on the way 
out - notice that pilot is disengaging 
ping - a non-fatal bullet/cannon strike 
pond - large body of water 
pony - P-51 
poof - disconnecting 
pork - make base un-usable 
porker - someone who porks a base for no reason. 
prep - prepare field for capture 
rgr - roger, yes 
roc - Rate Of Climb 
rofl - Rolling On Floor Laughing 
roflmao - ROFL my bellybutton off 
rtb - return to base 
run - depart the area at high speed 
runstang - P-51 
s - south 
 - Salute 
sa - situational awareness 
scramble - take off and engage enemy from capped field 
smokin(g) - damaged and trailing smoke 
sortie - a flight by a plane is a sortie. Two planes flying together equals 2 sorties. 
spit - Spitfire 
spit5 - Spitfire Mk V 
spit9 - Spitfire Mk IX 
sprayer - a pilot who expends ammo liberally 
stang - P-51 
status - often refers to loc, alt, hdg 
stick - bombs dropped at one time 
tanx - thanks 
thanx - thanks 
thnx - thanks 
tune - tune radio.  tune 117 means change channel to 117 
twr - tower 
ty - thank you 
up - taking off (as in "up A51") 
ur - you are or your 
vh - vehicle hangar 
vis - visual contact 
vox - voice 
vulch - to shoot a plane as it tries to take off.  
w - west 
WEP - Wartime Emergency Power 
wepping - using WEP 
zeke - Zero 
The following are military "pro-words".  These are used to keep military radio traffic short.  They are also useful for keeping your on-line vox transmissions short. 
Roger - I understand the last transmission 
Wilco - I understand the last transmission and Will Comply with the instructions 
Say Again - Say the last transmission over 
Say Again All After... - Say the last transmission after the word ... 
Over -  I am through speaking 
Out - Conversation Over 
Wait - stand by