Explaining how to create a full lockon model from zero is a huge task, there is not ready-to-use recipe. Nobody is able to explain shortly the full process ! But here is a short summary of the different steps. They're all important :
-> Define the project. Which plane ? Which use ? If is for aerobatics only, you don't have to care about payloads, pylon positions, etc... It is for private use or public release ? For private use, you can forget some details, etc...
-> Define poly count : 20.000 to 30.000 is a good base.
-> Find documentation. Beware of blueprints, you MUST check their accuracy by comparison with pictures for exemple. Even if blueprints seems correct, they don't describe full shape of the model. You need a huge collection of picture to validate your work.
-> Create 3D.
-> Create mapping.
-> Create template and skins.
-> Implement animations.
-> Create additional payloads.
-> Edit MeInit and .skins files.
-> Always check your model in game... Fix the bugs, then re-check in LO, then re-fix, etc...
Many tutorials exist on the web, especially about 3D and mapping. I let you find them.
If you have six months to lose (at least), you can begin now.
And of course, don't forget the ED's plugin needed for .lom export...
http://forums.eagle.ru/showthread.php?t=26447
http://forums.eagle.ru/showthread.php?t=23968
Cheers