Ok so these are my recommendations, not objective facts, but practices that I find effective.
When employing the AIM-54 you should try to do the following:
1 - Launch from as high and fast as possible. Once you have gained a little speed from the airfield you should climb at 20-25 degrees until you reach 8000-10000m altitude.
2 - Asses your targets carefully, cycle through TWS until you find a suitable target
3 - You want to target aircraft, not missiles. Look at the relative speed to target, missiles are faster than aircraft so a very high closure rate is indicative of a missile. Dense clusters of contacts/smoke trails at altitude are likely Phoenixes, don’t target these.
4 - Asses your target’s heading. On your radar screen you can see a line coming out from the target dot. You want to fire at targets coming straight at you, if they are already going sideways or almost sideways in relation to you, then don’t fire.
5 - Prioritize targets down low, as they are less likely to be competent/confident at BVR fighting, and less likely to pay attention. ARH coming from up high is also more difficult to notch. Even if they successfully evade, the large warhead on AIM-54 can cause critical/lethal splash damage.
6 - Pay attention to what your friendly F-14s are doing. You are basically competing with them for kills, so try to avoid targeting the same enemies. If they are spamming AIM-54 against a certain section of the map, try to find targets outside this area.
7 - Launch at the appropriate distance. If you launch from too far then the rocket motor will burn out too soon and the missile will travel slower, making it easier for you target to react and evade. Too close, and the missile will not have the time to accelerate, it will be too slow and easy to evade. Personally I prefer to launch at 45-50 km away.
8 - Once you have launched your AIM-54s, stay nose-on towards your targets and guide them in for a while. The less erratically the targets are moving, the sooner you may break off. Personally I guide them until they are a few seconds from going “pitbull”, the point where the missile seeker goes active. Still, your survival is more important, so if your RWR is screaming at you, go defensive before it is too late.
9 - Take appropriate fuel load and loadout. For the F-14B I take 6x AIM-54 and 25m fuel. This allows me to climb faster, but still retain enough fuel to stick around in most matches.