"Red wings" is a Hell's Angels reference.
From Hunter S. Thompson's
Hell's Angels: A Strange and Terrible Saga
Quote:
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Many wear other, more esoteric decorations - symbols, numbers, letters and cryptic mottos - but few of these had any public meaning until the outlaws began talking to reporters. Among the first to be exposed was the numeral "13" (indicating a marijuana smoker). This one is almost as common as the one-percenter badge. Others, like the patch saying "DFFL" (Dope Forever, Forever Loaded) and the Playboy Rabbit (mocking birth control) were exposed by True magazine, which also explained the varicolored pilots' wings: red wings indicating that the wearer has committed cunnilingus on a menstruating woman, black wings for the same act on a Negress, and brown wings for buggery.
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...and now you know the rest of the story.