Hey guys. I have now successfully completed the mission. Thank you to everyone that replied. I read each reply and then also furthered my own learning by watching more YouTube videos.
For anyone that is interested (perhaps other new people just like me):
The skill that made my victory possible was understanding how beaming works. Basically, I came in below the two F-16s and perpendicular to them, as I learned this makes it harder for their radar to pick me up. I wanted to use my ETs so as to avoid having to turn on my radar at all (to keep with my stealth approach). So when I got closer, I then flanked slightly to face their engines so my ETs could get a good heat signature. I locked one up and fired, disengaged, locked the other up and fired. I managed to kill both bandits without them ever getting off a single missile at me.
I then went onto dispatch the two F5s/F4 (I can never remember which comes in which wave). I locked up the first one with a 73 and manged to get the missile away (which hit the target), but then had to evade an AIM-7 fired from the other bandit by dropping and dispensing chaff. As this gained me energy I was then able to pitch up again and catch the second bandit with another 73 just as he was flying overhead.
I asked my wingman to engage the two B-52s during the battle, so that I could concentrate on the fighters. Only downside is I ran out of fuel so in real life I would have had to eject and lose the aircraft but I still consider this a success lol.