In a slide show you can see how to effectively use one bomb to kill two light fighters.
Two are very close to my tail. It is a right time for
And the result is
So to conclude: Even in an IL-20 against two very good light fighters, you have a chance. Wait them until they are low on alt and speed close and less than 200m off your tail heading to your direction and release the bomb. Some time you are going to be lucky and get two catfishes in your net.
And for those that are wondering, Yes we won that battle. IL-20 one bomb 2 kills, enemy fighters ......... booom.