I've been thinking about this for a while. Rather than having the annoying, random black outs when you get pilot wounded, how about the sides of the screen get black and then start closing in on the center of the screen depending on the condition of the pilot wound. Small pilot wounds would take about 5 minutes to bleed out and make the whole screen black, and more severe wounds would make you bleed out much quicker (maybe 2 minutes).
Any thoughts?