Well I suspect it would be pretty simple to have your call sign / name show up under the canopy rail. As I understand it once you're in rage the game automatically picks this up, that's how we see it in the film viewer so a simple check box in flight preferences, or graphics preferences to turn it on, and (with more work of course) it would show when you're close to another plane.
Nose art or custom lettering would be much more work and is probably not practical.