I can't help you, but that clip reminds me what a fine looking game that was.
From that, it appears that your rig is having trouble with the DX7 graphics of the day and this is a big problem since IIRC, there is no Glide option.
While for DOS and Windows Glide games, we are well served with emulators and wrappers, I haven't seen anything that can wrap pre-DX9 games to a form that they can be expected to work with a modern graphics driver.
What 'someone' needs to do is create a proxy DX7 dll (maybe based on code from the open source WINE project) that takes the incoming DX7 commands and repackages them to DX9/10/11 or OpenGL2/3/4 commands.
This may not be significant, but a review at the time indicated that the game was having trouble with AMD CPUs:http://www.combatsim.com/memb123/htm/nov99/usaf-rev1.htm