Hmmmm, I love a challenge!
I think I know how I can do this:
1). In Single Missions I can use FRAPS to record the Stuka diving from various external views/distances (including flyby) and pick the best-sounding one.
2) I'll use Adobe's CS6 Premiere Pro/Audition to extract the siren sound & enhance it
3) Use Media Encoder to produce the ringtone
If anyone has a better way, jump in! In the meantime, leave it with me!