This is a good idea. I flew a Red Flag with the 504th back when I was in the 44th (used to go by "Rockeye"). In that excercise, we had peace-time ROEs.
One word of caution on this (and this seems obvious): The ROEs need to be spelled out and both sides need to understand them the same way. The ROEs should specify as much as possible so that there is little or no ambiguity. In Red Flag I flew, each squadron had their own interpretation of the ROEs which led to misunderstandings and frustrations.
But I still managed to do my recon and take my pictures! :)