There isn't really a good way of doing this, sadly. The textures are simple images so each individual aircraft would need to be written out to disk as a new, temporary model with matching textures. That would mean loading the original, decompressing it, writing in the correct tailnumber, compressing it and saving it to disk, and copying the model to the same place. In a busy area I regularly see over 1,000 different aircraft being tracked so that would be 1000 times an average of about 12Mb, so let's say 10Gb, to read and then write back to disk at the start of every flight and then keep updated every three minutes or so during the flight. Plus the hassle of handling diskspace problems, cleaning up after an unplanned shutdown...

Technically possible, definitely, but I think more trouble than it's worth.