Yes, it would, thats a wonderful clip. It might be possible to have the 3rd party do most of the work. If Oleg made the architecture open enough...
Most of this conversation couldn't be reproduced but certainly it would be possible to have the rear gunner announce that the plane was "under attack" or that he had "shot down the enemy fighter" or warn of the danger of colliding with a "bomber at 3 O'clock low".
Similarly, having generic descriptions of ground targets like "3+ merchants and one destroyer" or "I see another destroyer", would increase immersion and situational awareness.