Now that's more like it! After failing once (miserably), I beat it on the second go! Wingmen were dying at an acceptable rate. The Argo escaped with about 70& health again, while the Deimos got out with less than 20%.
My next gameplay suggestion is to make the Argo more of a target for attacking forces. Right now, you barely need to worry about it at all.
I don't think it's necessary to have the 'Add-on' ring and the 'Docking Point' Elysium to be hidden from sensors.
This is for the Elysium especially since (for me at least) it is not at all obvious what function it is supposed to be serving. At least if it can be targeted, the player will know that it is a dock point of some sort.
It also seems a little weird to have a meson warhead sticking out of the side of the station (not to mention having that annoying fuzzy blip on the radar.) It would make the mission a bit more mysterious if the blip arrives just as you're told to investigate the strange reading. This could be achieved by having a small fighter (set to 'hidden from sensors') arrive inside the station at the appropriate time, instead of having that big warhead. You can achieve the same spectacular results by modifying the fighter's explosive properties.
Check the arrival location of Iota, Kappa, and Tango wings. The message states they launch from the Herectic's launch bay, but it appears some of them arrive via subspace.
Many of your messages depend on certain pilots being alive to send them. However, the way the mission is now, those pilots maybe dead when they are scheduled to send messages. This leads to Command sending the messages, but it would seem that you are avoiding using Command.