MST3K episode 612, The Starfighters, is a favorite of my family and myself - my folks are retired Air Force. So they also know a lot of corny, obscure fighter movies that would be perfect riff material!

Red Flag: The Ultimate Game (1981) is pretty similar to The Starfighters - it follows two pilots in Air Force Fighter Weapons School (i.e. Red Flag); it uses a few more actual actors though. Here is the trailer in Japanese, just because: https://www.youtube.com/watch?v=73aI1kLQ48c

Iron Eagle's summary I'm going to borrow from John Vogel at IMDB because it's so great: "When Doug's father, an Air Force Pilot, is shot down by MiGs belonging to a radical Middle Eastern state, no one seems able to get him out. Doug finds Chappy, an Air Force Colonel who is intrigued by the idea of sending in two fighters piloted by himself and Doug to rescue Doug's father after bombing the MiG base. Their only problems: Borrowing two fighters, getting them from California to the Mediteranean without anyone noticing, and Doug's inability to hit anything unless he has music playing. Then come the minor problems of the state's air defenses." https://www.youtube.com/watch?v=3npr0RKBucc