Here's a couple of screenies of me and Furbs mucking around in coop.
We had at least 100 aircraft spawned maybe 200 i lost count.
I spawned about 4-5 waves and it was fine, it wasnt until about 10 waves of aircraft that it started to lag.
It definitely works using the spawn points solution above by Ataros!
Its not ideal but once you have a few people trained up how to do it you could have a blast. I didnt try the GUI by Banks but will do that another day!