I think this idea should be extended to all fighters, not just squad leaders.
Flying in formation takes skill and should give an advantage. Obviously there would be a maximum repair speed but it should increase slightly with every fighter added (up to 6?)
This would encourage people to form up and head into a fight as a squadron Something that is serverely lacking right now. Ideally, two squadrons would fly at each other in formation before breaking up into dogfights. Also imagine formation bombing runs. The capship gets the advantage of aiming at a whole formation rather than one fighter, and the fighters can take hits and keep on bombing.
For this idea to work the repair radius must be kept pretty low. You would also need voice commands like "form on me" and "break formation"
With regards to the radar idea, that would be a useful addition to the squad elader, encoruaging the squad to stay together even after breaking up into dogfights.
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If I should die, think only this of me:
That in some corner of a foreign field
There lies a plagiarist.