NEW!
L/Headlights: Fire in engine one.
K/Hazard light: Fire in engine two.
I can't stop the engines since the plane won't fly with lopsided engines but you get a lot of smoke and some flames (as in orange smoke) for RP purposes.

It's of course easiest if one person flies and one person guides the bombs, but the plane flies relatively steady at 60-70% throttle so gain some altitude (250+ metres) and then switch seats with F1 until you end up in the bomber's seat just behind the pilot, switch camera to the missiles, fire and control with Alt controls, then repeat.