Fighting with wingman requires 2 things, thrust and ability of your wingman/wingmen/plane type.
In LD flying together is what our squad is all about.
This can be frowned upon by some, but its fun, and it increase your chances of RTB.
I know hanging a con will get his butt kicked, and my bacon saved with a good wingman.
If you are flying deep down in the weeds, chased by those LA-7's the high squaddie with the right plane dives in to save the day for you, and also send that LA-7 where is belongs.
Some things I have noticed trying different tactics:
1-2k distance between wingmen doesn't work in general, 2-4k is more of a norm in MA.
Use plane types that work good together. close-in fighters like the zeke and a brick 190 makes it much harder to work good.
Use Teamspeak or in-game voice, give short exact instructions what you are doing and enemy plane/position and closure if you are chased, and wingman gives distance to target, closure, and if he wants to shorten path by you turning to either side.
Trying to help green planes is also an option, but I tried too many times to save someone, just to see him turn into the horde at the wrong moment, next time you see that player in trouble ( normally within 5 minutes, in trouble again), you just want to whistle and fly by.
Some veterans you see every night, always give you same good instructions as your wingman.
Escort buffs = best perk-farming you can get, you also help buff pilots complete their mission, as you have wingman you can both sweep in front of buffs and protect them from a high position.