There was a complete cast change from season 1 to season 2 with no explanation given. The last episode ended on a cliffhanger and no mention of season 1 or it's characters was given in further seasons.
Every time a pilot was exiting a jet or plane, the hull would read "LTCOL M. C. ALBO" with the call-sign "DOGFOOD" underneath.
The US Navy Fighter Weapons School (a.k.a. Topgun) still exists, but moved from San Diego, California to Fallon, Nevada in 1996. It also now includes air-to-ground training as well, and is more of a general combat training program than an air-to-air dogfighting school.
Sandra Hess and Kristanna Loken appeared in separate Mortal Kombat project, Hess played Sonya Blade in Mortal Kombat: Annihilation (1997) and Loken played Taja in Mortal Kombat: Conquest (1998).