Factual error: Doug Masters and his friend Reggie would be grounded on the spot and have their pilot's licences suspended (and in all likelihood cancelled) after buzzing the motorcyclist. Their flying is grossly unsafe. They would be visible for miles flying well below a safe altitude, but even if they were not seen their radio traffic and radar tracking would tell the authorities everything they needed to know.
Factual error: The enemy planes described as Mig-23, are really Israel's Air Force IAI Kfir fighters.
Factual error: The training scene where Cappy and Doug are doing target practice is all wrong. First of all, an F-16 would never be able to launch missiles at a cloth target on the ground. Those targets are for gun practice. Secondly, the MK-82 is a BOMB, not a missile as the movie shows. Also in order to drop a bomb, the pilot must use a computerized inertial pipper which calculates the precise drop zone. There is no way the absence of Doug's music could "mess up his rhythm" on the practice drop.
Factual error: None of the security police are wearing badges, which is part of the required uniform, also they were wearing dark blue shirts, these are only worn at SAC headquarters.