It should be an easy custom job. You'd just need to add the correct designation stripes (Red-5 has 5 stripes, etc) to the wings and the correct pattern to the horizontal "racing" stripe on the hull - either broken (as on Luke's) or solid. Then there's the matter of a droid for the droid socket.
It's easy to apply custom stickers/decals to make the appropriate ships. Somewhere I have a large .psd of the sticker sheet from the PFX Xwing that I changed several times for Biggs and Wedge ships. I just customized the stickers and printed them on a solid adhesive-backed paper, cut, and applied. Instant ride for Wedge.
I'd love to hear how the ship compares to the PFX and Dagobah versions...
