Wingman Auto-Pilot Tactics; An Aces High Fight with Latency, and your flight leader.
Rule #1 - If your joystick is causing you to drop out of auto-pilot level flight, you're going to have a hard time in formation flying with .wingman <Flight_leader>
Get your stick cleaned up so that you aren't being "bounced" out of auto-pilot.
Rule #2 - Flight leader should never be full RPM and full throttle for a climb-out as it's simply too difficult for his "wingmen" (in auto-pilot mode)
to maintain a certain distance; Having the flight leader drop to normal power (from E6B) will allow any wingmen to maintain formation and proximity without minor corrections causing so much loss in speed as to create the "wobble" affect.
Rule #2B - When you're wobbling back and forth in wingman auto-pilot, it's because your auto-pilot can't maintain distance you just set between leader and yourself. I've seen this all too many times when someone speeds up to the leader only to hit auto-pilot and have the auto-pilot drop throttle to "match" the leader's speed and heading; problem is, you lose too much and the auto-pilot never maintains the speed of the leader and eventually lags behind and starts wobbling.
Rule #2B - SubsetA - To correct for this, assuming your flight lead has reduced their throttle and RPM from max, manually fly into formation with flight lead and manually try to match their speed as best you can before engaging wingman auto-pilot.The closer your speed and heading to the leader, the less likely you will "wobble behind".
Rule #2B - SubsetB - What I found works, is to engage and disengage until you've found the sweet spot and when engaging auto-pilot doesn't drop your throttle "to match the leader", then you're locked in as it were.
Rule #3 - Patience and having a leader who's not impatient really helps... If the leader is full throttle WEP on, like a rocket-man!, don't bother with .wingman as you will only be frustrated by the wobble.