I haven't played the campaign, but I'm fairly certain is it not co-op.
Multiplayer for this game took a hit when Gamespy went down. Now people have to find each other using the direct IP of the host. Unfortunately, there's not many people still playing Iron Front.
Major Mayhem aka Grayworf from this forum hosts Iron Front sessions. I've only been to one so far and it was fun. Check out the other thread in this forum.