I know of one being built right now like that, I'll post pictures when complete.

They have these super tiny LED's called Nano and micro Nano LED's that you can use also. They can be surface mounted and not even noticeable which would save a ton of dremmel work. They are also super bright. I'm going to give them a shot and dropping the motor in mine now as well.

BTW if anyone is interested my LHS has about 8 of these kits left in stock, they were $17.99. I can grab one for anyone who wants one, I can't see shipping being expensive as these are light and small packaging. Just let me know.

Here is the website, they are called PICO Led's. You can choose color of your liking. IMHO I would also choose the 6-12v DC version (which is what I ordered).

These are the same LED's I used when I designed the Gandalf LOTR Lighted Staff mod, they are awesome and already come resisted for stated voltage.

http://www.modeltrainsoftware.com/smd-chip-leds.html

Now for the spinning prop motor I ordered a set of these from China which takes about three weeks to arrive.

ebay.com link: itm

Pictures of the project coming soon as I do the build.

Too late found that out when doing the Bi-plane lol, good thing it came with two motors. I just ordered another batch of motors. They work awesome.

Yep that is what I'm doing I might have to do some cutting and move the motor as far forward as possible but the spinner will hide all that, I hope

Pico LED's have just arrived so tomorrow I'll do the build and take photos and video. BTW these LED's are awesome and tiny as shit and bright, perfect for surface mounting. They are about the size of the head on a ball point pen.

Also the ultimate soldier 1:48 are nice too, I would just try to stay away from diecast models and go with plastic. Much easier to customize with the drilling.

About to get started and here is what we have so far:

The Plane is an Ultimate Soldier 1:48 (going with #17)
P1010064.JPG

Second this is the Pico LED, it's so tiny it was hard to focus on. To give you an idea of the size, it's the white dot inside the horse on the apron decal.
P1010067.JPG

Being that I'm using the Ultimate Soldier plane, not sure if the spinning prop mod will be doable at this point.

Here is a quick shot of the Pica LED's lit as I glue them in place.P1010065 (2).JPG

and a shot without power showing the LED size
P1010002.JPG

Here is a quick video with the results thus far, the spinning prop will be a bitch in this plane it would be much easier in the one that the OP used.

1:48 scale is a perfect fit.

and some stills to show size:

20141107_205419.jpg20141107_210315.jpg20141107_210320.jpg

Because I have to do some cutting there to mount the spinning prop motor and for me anyway it was just best to keep the wires out of the area where major work has to get done.

I just tacked glue the led's in place on the leading edge of the wing and being that the wires are so thin I snaked them through the existing openings under the wing by the wheel wells.

Love these led's, I use them all the time in model railroading because they are so easy to conceal.

heading to my LHS in about 3 hours to get some Heli fuel, they have the same one the OP used for 17.99, if you like I can grab it for you or anyone else who wants them. I'd say they should be about 5.00 to ship, so for $22.00 and 9.00 in LED's you guys can build your own.

PM me if you guys want me to grab you a plane while I'm there.

*** I'll check on Bi-Planes while there as well. ***

My LHS actually has 8 of them, three of which I bought today for a few folks who want them. I agree 1:48 scale Messerschmitt or Bi-Plane seems to be hard to find.

What I did was cut a coin slot in the bottom of the new plane and used the existing bracket, just take the new plane and align it up with the bracket on the outside of the fuse, pencil the template and screw holes so you can drill it on it's mark.

As far as it goes for the plug I used the existing one as well, just unsoldered the red and black wires form the current led board on the stock plane and marked which one was black and the other red if I want to reinstall it. (I don't see that happening to be honest)

In addition but it might be a little overkill, I also put a 1N4001 diode on the positive feed to the led's.

Might work but you'll have to drop the input voltage, these run at 1.1v to 1.6v.